Debt Control Key for Shunned EMs, Kenya Central Banker Says
- Njoroge has asked Kenyan lawmakers to find non-debt financing
- Capital flight has caused emerging market bond yields to surge
This article is for subscribers only.
Emerging and frontier market nations need to manage their debt better after being priced out of global markets, according to Kenya’s central bank governor.
“Financial markets have frozen us out and it is difficult for us to maintain our relationships in the capital markets,” Patrick Njoroge said in an interview with Bloomberg TV. “Things would be tougher for a bit longer and that is a big concern for us.”