Eurobond Ahead?

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The Kenyan government plans to assess the prospects for a Eurobond over the coming months. Although the 2009/10 budget does not explicitly include plans for a sovereign bond, the finance ministry's medium-term outlook said that 'the government will reassess the situation in the international capital market in the course of the financial year with a view of accessing it if circumstances permit'. The receipt of finance would help to shore up macroeconomic stability, albeit increasing the nation's stock of total external debt.