Nairobi, Aug. 26 -- The government's net domestic borrowing has hit Sh221.4 billion within the first two months of the fiscal year, staying ahead of the pro-rated target as a high liquid market supports lending to the State.
The government has taken up Sh200 billion from the Treasury bonds floated in the market in the current fiscal year, which include July's three-tenor paper and a tap sale on a 2018 20-year bond, and the 11-year infrastructure bond whose sale concluded last week.
In the 2020/2021 fiscal year, the government intends to borrow a net of Sh494 billion from the domestic market.
Analysts at investment bank Genghis Capital said the ambitious borrowing over the short period implies the reduced borrowing pressure ahead and a sh...