American global rating agency Moody’s has downgraded Kenya’s credit standing from B3 to Caa1 after the withdrawal of the finance bill following weeks of anti-government protests. The credit rating agency cited failure to implement austerity measures on expenditure foregoing revenue-raising measures in the Finance Bill 2024. President William Ruto’s withdrawal of the finance bill, a…...
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Moody’s downgrades Kenya’s rating over withdrawn Finance Bill
William Ruto, president of Kenya
Muthoga Mungania
Muthoga Mungania is an award-winning, Nairobi-based multimedia journalist covering economic, corporate, financial, tech and investor relations matters among other business stories. Muthoga is seasoned in data and market analysis, corporate finance, and economic trends, making them a trusted voice in East African business journalism, communications and consultancy.
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