Kenya protests highlight transmission of social risk to sovereign creditworthiness

Moody's Talks - Emerging Markets Decoded

The opposition to proposed tax hikes impedes the government’s ability to increase revenue and reduce debt. Similar risks exist for other emerging market sovereigns too.

Guest: David Rogovic, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody’s Ratings

Host: Scott Phillips, Head of Emerging Markets, Credit Strategy and Research, Moody’s Ratings

Related Research:

  • Moody's Ratings downgrades Kenya's ratings to Caa1; maintains negative outlook
  • Government of Kenya: Protests against Finance Bill's tax measures challenge government's fiscal consolidation strategy
  • Government of Kenya: Kenya's IMF agreement bolsters short-term liquidity; fiscal consolidation is key to improving credit quality
  • Sovereigns – Sub-Saharan Africa: 2024 Outlook - Negative on large debt maturities amid tight funding conditions

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