NAIROBI (Xinhua) --
The Kenyan domestic debt rose by 436 million U.S.
dollars in the last one month amid intense selling of government
The surge saw the total domestic debt clock
24.1 billion dollars at the start of May, up from 23.7 billion
dollars at the end of March, Central Bank of Kenya data show on
It is the first time that the domestic debt has surpassed the
24 billion dollars mark, according to the Central Bank, having
ranged between the 23 billion dollars and 23.7 billion dollars
level in March and April.
The debt has, however, been on an upward trajectory as
appetite for the securities by local investors grows, with most
of the issues oversubscribed.
Last week, the government offered for sale Treasury bills
worth 240 million dollars but received bids worth 400 million
dollars, a subscription of 166 percent, with the performance
being a continuation of the past trend.
"Government securities market registered good performance in
the week ending May 11, with over subscriptions registered for
all tenors of Treasury bills on offer," noted the Central Bank.
Besides the Treasury bills, the government is this month
selling a 400 million dollars bond for budgetary support.
The Treasury bond (FXD 1/2018/15) has a coupon set at 12.7
Commercial banks are the biggest holders of the domestic
debt, with their share currently comprising 55 percent of the
24.1 billion dollars amount.