Kenyan president warns of huge consequences over debt plan failure

People react during a concert in memory of people who were killed during a demonstration against the imposition of tax hikes, in Nairobi, Kenya, July 7, 2024. The deadly protests led President William Ruto to reject the increases. Kenyan President William Ruto signs the Independent Electoral and Boundaries Commission Amendment Bill 2024, in Nairobi on July 9, 2024. Ruto said last week that he had worked hard "to pull Kenya out of a debt trap."

The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns "it will have huge consequences."