By GFDNews Correspondent
The Paris Club of creditors on Monday said it has extended its Debt service suspension initiative to Kenya debt due for repayment from January 1-30, 2021.
The club in a statement said it “recognized that the Republic of Kenya is eligible to benefit from the initiative.”
The Paris Club said Kenya is committed to devote the resources freed by this initiative to increase spending in order to mitigate the health, economic and social impact of the COVID19-crisis.
“The Government of the Republic of Kenya is also committed to seek from all its other bilateral official creditors a debt service treatment that is in line with the agreed term sheet and its addendum.
“This initiative will also contribute to help the Republic of Kenya to improve debt transparency and debt management.
“Paris Club creditors will continue to closely coordinate with non-Paris Club G20 creditors and other stakeholders in the ongoing implementation of the DSSI, so as to provide maximum support to beneficiary countries,” the creditors club said in the statement.