Moody's revises Kenya's ratings to 'positive' on potential liquidity risks easing

Global ratings agency Moody's revised Kenya's outlook to "positive" from "negative" on Friday, citing a potential ease in liquidity risks and improving debt affordability over time.

The East-African country has been struggling with heavy debt and looking for new financing lines since last year due to nationwide protests against proposed tax increases.

Domestic financing costs have started to decline amid a monetary easing cycle and this could continue if the Kenyan government effectively manages its fiscal consolidation, opening doors for external funding options, the report said.

This story originally appeared on Reuters.