Sunday, February 25, 2018

Kenya, China and Growing Debt

The Daily Nation (Kenya) published on 13 February 2018 an article titled "Beijing Takes Up Nairobi's Foreign Debt Spend" by Constant Munda.

The servicing of loans from China accounted for 48 percent of its total foreign debt servicing during the period July-September 2017, second only to servicing paid to the World Bank's International Development Association. As of September 2017, Kenya owed foreign commercial banks $6.86 billion, an increase of 231 percent over three years earlier. Of this amount, $4.73 billion was owed to Chinese banks, up from $922 million three years ago.

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