Monday, March 25, 2019

Kenya's Debt Repayment to China

Kenya's Business Daily published on 19 March 2019 an article titled "Kenya's Debt Repayment to China, India Increases" by Constant Munda.

China received more than a fifth of Kenya's total external debt servicing during the six month period that ended in December 2018. External debt servicing includes repayments to individual countries, private commercial banks, and international financial institutions. During this period, China received 61 per cent of Kenya's debt servicing to individual countries. Kenya's debt to China reached $6.2 billion in December 2018. The deal by the Export-Import Bank of China to fund 90 percent of the $3.6 billion Mombasa-Nairobi standard gauge railway saw Beijing overtake Tokyo as Kenya's largest bilateral lender.

No comments:

Post a Comment