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President William Ruto has said that money from institutions such as the International Monetary Fund (IMF) and the World Bank is crucial to support the economy, even as the country grapples with record inflation, fiscal imbalances and low reserves.
Kenya could default on repaying the $2 billion (Sh306 billion) Eurobond, which is set to mature in June next year, in the absence of bailouts and painful economic programmes from the Bretton Woods institutions, he said during Sunday's national address with various television stations.
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