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APRM Criticizes Moody's Over Kenya's Misleading Credit Rating

2/2/2025

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Story summary

The African Peer Review Mechanism (APRM) has slammed Moody's for its optimistic credit rating of Kenya, deeming it reckless. Economist Billow Kerrow pointed out that despite positive macroeconomic trends like a stable exchange rate and lower inflation, everyday Kenyans are still grappling with soaring living costs. He stressed the urgent need to tackle corruption and excessive taxation for true economic progress.

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Story summary

The African Peer Review Mechanism (APRM) has slammed Moody's for its optimistic credit rating of Kenya, deeming it reckless. Economist Billow Kerrow pointed out that despite positive macroeconomic trends like a stable exchange rate and lower inflation, everyday Kenyans are still grappling with soaring living costs. He stressed the urgent need to tackle corruption and excessive taxation for true economic progress.