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KENYA: Constitutional referendum dead, presidential succession less certain

KENYA: Constitutional referendum dead, presidential succession less certain | Speevr

On 20 August, the Court of Appeal upheld a high court ruling declaring several aspects of the Building Bridges Initiative (BBI) unconstitutional. The ruling represents another blow to President Uhuru Kenyatta’s and opposition leader Raila Odinga’s plans to amend the constitution …   Become a member to read the rest of this article Username or […]

KENYA: Modest budget, but downside risks loom large

The budget presented to parliament last week appears modest, given that 2022 is an election year. However, the proposal carries considerable downside risks on both the revenue and expenditure fronts. If these materialize, Kenya may be forced to request debt restructurin…   Become a member to read the rest of this article

KENYA: What next for Kenyatta’s BBI plans?

KENYA: What next for Kenyatta’s BBI plans? | Speevr

Just as political support for the Building Bridges Initiative (BBI) looked unassailable, the high court has ruled it unconstitutional. The ruling represents a major loss for President Uhuru Kenyatta and opposition leader Raila Odinga in their battle to overhaul the political…   Become a member to read the rest of this article

KENYA: IMF deal heralds return to international debt markets

KENYA: IMF deal heralds return to international debt markets | Speevr

Reforms under Kenya’s three-year USD 2.4bn deal with the International Monetary Fund (IMF) face political constraints. The Treasury’s fiscal consolidation strategy seems slow but may be gambling on a strong economic recovery and leeway provided by continued pandemic unce…   Become a member to read the rest of this article

SUB-SAHARAN AFRICA: Eurobond Political Risk Monitor

SUB-SAHARAN AFRICA: Eurobond Political Risk Monitor | Speevr

Our Eurobond Political Risk Monitor, presented in the attached table, provides a go-to guide of the main political and policy issues in 17 sub-Saharan African (SSA) sovereigns that have issued Eurobonds as of January 2021. In this edition, our ‘Spotlights’ section assesses the ri…   Become a member to read the rest of this article

SUB-SAHARAN AFRICA: Implications of Kenya’s DSSI accession

SUB-SAHARAN AFRICA: Implications of Kenya’s DSSI accession | Speevr

On 11 January, the Paris Club announced that Kenya would benefit from the Debt Service Suspension Initiative (DSSI) from 1 January to 30 June 2021. At the start of a crucial year in Kenya’s political cycle, the government’s U-turn on an earlier decision not to participate in the …   Become a member to read […]

KENYA: Political incentives remain juxtaposed to budget consolidation

KENYA: Political incentives remain juxtaposed to budget consolidation | Speevr

Controversial constitutional amendments proffered with the Building Bridges Initiative (BBI) will necessitate a public referendum by mid-2021. The referendum will effectively be a high-stakes test-run for the presidential election slated for August 2022. The politica…   Become a member to read the rest of this article

KENYA: Budget Policy Statement aims to square the circle

KENYA: Budget Policy Statement aims to square the circle | Speevr

The Budget Policy Statement (BPS), which is supposed to be passed by Parliament this week, marks an important step in the budget formulation process for FY2020/21, whose implementation starts in July. However, the BPS contains a key contradiction as it promises to keep capital ex…   Become a member to read the rest of this […]

KENYA: Al-Shabaab’s impact on the economic and fiscal outlook

KENYA: Al-Shabaab’s impact on the economic and fiscal outlook | Speevr

● Despite a surge in US air strikes, al-Shabaab shows a hardened resolved in Somalia and appears to step up its game in Kenya. ● The impending AMISOM troop withdrawal from Somalia will put additional pressure on Kenya’s budget as the Kenya Defence Forces will need to take on m…   Become a member to […]

KENYA: Implications of the cabinet reshuffle

KENYA: Implications of the cabinet reshuffle | Speevr

On 14 January, President Uhuru Kenyatta announced a surprise cabinet reshuffle as well as several policy initiatives aimed at shoring up his support base. Personnel changes at the ministries of health and agriculture appear to be motivated primarily by the lack of progress concer…   Become a member to read the rest of this article