President of the United States of America Joe Biden is expected to address the issue of solving Kenya’s debt crisis during a meeting with President William Ruto, who is in the US for a state visit.

During Ruto’s four-day state visit hosted by President Joe Biden, the two plan to renew the relationship between the two nations.

The two presidents will discuss a number of pressing issues, including a strategy to help Kenya overcome its debt crisis.
According to sources familiar with the talks, the United States would offer Kenya an extended remedy to the country’s debt crisis.

For instance, America may urge large creditor countries such as China to provide debt relief to debtor countries such as Kenya in the form of grants and prospective debt service suspensions.

The United States can also lobby international financial institutions such as the World Bank and the International Monetary Fund (IMF) to provide low-cost loans to Kenya.

Following the talks, the two leaders will issue a joint statement and sign accords that will confirm America’s commitment to resolving Kenya’s debt crisis.
According to an official who accompanied the president to the US, Ruto’s travel to the United States sends crucial messages about America’s determination to deliver answers to the African continent.

“When Ruto speaks, he speaks for Africa, and, considering that President Biden has yet to visit Africa, this discussion is about Sub-Saharan Africa as a whole,” stated by a participating official.

Kenya’s total debt remained at Ksh10 trillion in April 2024, according to Central Bank of Kenya Governor Kamau Thugge.

Thugge additionally stated at the time that Kenya’s strong shilling resulted in a debt reduction of Ksh 1 trillion from Ksh 11 trillion.

He also stated that the majority of Kenya’s remaining debt was owed to international financial institutions, such as the International Monetary Fund.

Among foreign countries, the CBK head emphasized that China was owed majority of the loan.