Saturday, June 29, 2024

China's Role in Kenya's Debt Crisis

 The Voice of America published on 28 June 2024 an article titled "Deadly Kenya Protests Spurred by International Debt Woes" by Kate Bartlett.

Deadly protests in Kenya resulted following parliamentary action to pass legislation for raising taxes to pay for debt servicing.  Most of Kenya's debt is owed to international financial institutions and holders of Eurobonds.  China has provided Kenya more loans than any other single country but Nairobi's debt to Beijing is well below what it owes to all other sources of loans.