President William Ruto's management of the economy has been lauded by Moody's Ratings, a United States-based international financial research institution.
In their findings released on Friday, January 24, the company noted that Kenya currently stands a high chance of highly reducing liquidity risks and improving debt affordability.
"Domestic financing costs have started to decline amid monetary easing and could continue if the government sustains its more effective management of social demand and fiscal consolidation," Moody's report partly read.
If Ruto's administration continues the course, Kenya will increase its credit score and easily attract funding.
"Such a track record would also boost Kenya's access to concessional and commercial external funding. Revenue collection efforts, if successful, present the potential for further improvements in debt affordability, although Kenya has struggled to expand revenue significantly and durably in the past, notwithstanding recent measures," Moody's report read on.
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Moody suggested that Kenya was on the right trajectory to get out of an economic morass compounded by a ballooning debt owed to external lenders.
According to the report, the baby steps in stabilising the economy would bolster the country's ability to honour its debt obligations.
Despite the prospects, Moody's said Kenya had a lot to do to strengthen its fiscal wellness; the high levels of poverty indicate Kenya has yet to make it.
Among the measures it recommended are strengthening the country's financial policy effectiveness, curbing corruption and improving the implementation of the rule of law.
Meanwhile, Kenya's public debt currently stands at Sh10.6 trillion, equivalent to $82.5 billion.
Moody's findings came as Ruto was facing harsh criticism from an angered public that accused him of slowing down the economy.
The president's critics argue since the start of his tenure in 2022, corruption and wastage of public resources have been on a high.
However, despite the backlash, Ruto insists that he has stabilised the economy, evidenced by the strengthening of the Kenyan shilling against the greenback and the inflation decline.
