IMF: Kenya risks Eurobond access over debt pile up
Wednesday January 06 2021
By OTIATO GUGUYU
Summary
The IMF’s latest assessment of Kenya’s debt sustainability shows the country is likely to breach the threshold over the next decade going by the level of external loans against the value of dollar-earning exports, tax revenues and gross domestic product (GDP).
Official data shows that Kenya’s debt stood at 69.2 percent of the GDP in August 2020, having climbed from 61.7 percent at the end of 2019 and 50.2 percent at the end of 2015.
The IMF warning comes barely a month after Treasury Cabinet Secretary Ukur Yatani told Parliament that Kenya expects to return to the Eurobond market in 2024 to refinance Sh130billion ($1.2billion) maturing bonds it borrowed in 2014.
Comair receives rescue plan funding, repays financiers
Comair (South Africa) issued (05-Jan-2021) the fourth status report on its business rescue proceedings. Details include:
Aviation operations resumed on 01-Dec-2020;
The company has received both equity and debt funding under the rescue plan. Financiers that assisted the company in managing itself out of financial distress have been repaid. Alternatively, the company s indebtedness has been merged into existing facilities;
All remaining creditors are required to lodge claims by 01-Feb-2021. [more - original PR]
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The Hard-Money Loans from ABL Help Local Real Estate Investors in the Northeast and Florida to Quickly and Efficiently Finance their Business Activities
LOS ANGELES, CA / ACCESSWIRE / January 5, 2021 / The founders of Asset Based Lending, LLC (ABL), a private commercial lender, are pleased to announce their expanded reach of local hard-money loans for real estate investors.
To learn more about the hard-money loans from ABL and how they can help real estate investors finance their business activities quickly and effectively, please check out https://www.abl1.net/.
As a company spokesperson noted, the founding partners realize that while many real estate investors have impressive goals for their careers, including flipping properties for a profit or holding property as an income-producing asset, they may not always have the required capital to get started.