Kenya to press ahead with Eurobond, undeterred by market ructions

Kenya is going ahead with plans to issue a debut Eurobond despite volatility in markets prompted by a reduction in the United States' economic stimulus programme, its finance minister said on Monday.
"We have not seen major revision of interest rates globally and that is why we are working quite fast to ensure we complete the process as quickly as possible," Henry Rotich said.
East Africa's biggest economy plans to borrow up to $2 billion from financial markets abroad, with marketing scheduled to start this month.
Rotich said the country will re-base its gross domestic product any time from April, a move that will raise the size of the economy from $35 billion.
The re-basing was necessary because of discoveries of oil, gas and minerals in recent years. The economy is mainly based on agriculture and services like banks and mobile telephony