Moody’s Downgrades Kenya’s Credit Rating After Finance Bill 2024 Collapse
Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…
