Kenya has launched its fourth Eurobond offering with a vow to rebase the economy later this year, similar to the one done in 2014.

Kenya’s debt-to-GDP ratios will improve as a result of the predicted higher GDP estimates, which can be used to explain the country’s ability to sustain a larger debt load.

The government said the rebasing will give an appropriate portrayal of the structure and size of the Kenyan economy in a preliminary offer document for the issuance of a Eurobond, whose roadshows the Treasury began on Tuesday.

Overall, the exercise increased the size of the economy by 25.4 percent, bringing the GDP statistic for 2013 to Sh4.75 trillion, up from Sh3.8 trillion previously.

Kenya’s economy was assessed at Sh9.7 trillion at the end of December 2019, according to the latest National Economic Survey from the Bureau of Statistics.

The rebasing in 2014 allowed Kenya leapfrog countries like Ethiopia, Tunisia, and Ghana to reach ninth place in Africa’s major economies, up from 12th place previously.

Guatemala, Bulgaria, Costa Rica, and Lebanon were all overtaken by the country, which rose around ten points from 87th place globally.

Overall, the process increased the size of the economy by 25.4 percent, putting GDP for 2013 at Sh4.75 trillion, up from Sh3.8 trillion previously estimated.

Kenya’s economy was assessed at Sh9.7 trillion at the end of December 2019, according to the most recent National Economic Survey from the Bureau of Statistics.

Kenya climbed from 12th place to ninth place in the list of Africa’s top economies after the rebasing in 2014. Guatemala, Bulgaria, Costa Rica, and Lebanon were all overtaken by the country, which jumped around ten places from 87th place in the world.