Legal Framework on Sovereign Debt Restructuring in the Face of Debt Crisis Kenya

Abstract

Unsustainable sovereign debt may result in adverse economic problems within a Country. Recently, the excessive accumulation of sovereign debt in Kenya has raised issues both locally and internationally this will lead to the inevitable sovereign debt rearrangement of these debts. It has been noted that there is a need for a legal framework to help facilitate the process of on rearrangement of the sovereign debts in the Country. The focus on this research identifying the problems in the existing sovereign debt rearrangement processes such as the controversy on the faults of the existing market structure, and the propose effective and reasonable resolutions for debt predicaments that could be practically applied in the Kenyan context.