Analysts expect Kenya's economy to grow by 4.1% in 2009, partly due to falling prices for commodity imports. The risks in 2009 are that prolonged dry weather and a global slowdown may hurt key agricultural export sectors and tourism.
Last year’s spike in the price of crude and commodities such as fertiliser drove up Kenya’s import bill — a factor blamed for the shilling’s weakness in the second half of 2008.
Like neighbours Tanzania and Uganda, the financial crisis forced Kenya to shelve plans to issue a debut $500 million Eurobond. It is now planning to raise 18 billion shillings locally through infrastructure bonds.
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