Kenya's debt repayments to China shoot to Sh1.4 trillion

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Kenya currencies. PHOTO | COURTESY

What you need to know:

  • Expenditure data published this week by the Treasury shows the amount repaid to Chinese lenders has surged 135.15 percent compared with Sh31.25 billion in the year ended June 2021.
  • The cash was wired to the lenders — Exim Bank of China and China Development Bank — in two batches of Sh43.62 billion in the third quarter of the current fiscal year.