Kenya to scrap one-year debt instrument
The paper said 18.6% of the country's domestic debt will mature by June 2025, mainly due to short-term debt falling due.
Kenya will stop issuing a one-year Treasury bill as part of a strategy to help reduce the amount of short-term debt and will instead favour longer-dated maturities, according to the National Treasury.
The East African country will now only be issuing two Treasury bills notes, the 91-, and 182-day instruments.
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"The target is to gradually reduce the stock of Treasury bills while lengthening debt maturity and issuance of medium to long term debt securities," the Treasury said in a debt management strategy paper published on Monday.
The paper said 18.6% of the country's domestic debt will mature by June 2025, mainly due to short-term debt falling due.
Kenya is struggling with heavy debt and has been scrambling for new financing lines after deadly protests last year forced it to scrap planned tax hikes.
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