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With Major Repayments to China Coming Due, Kenya’s Debt Servicing Costs Gobble Up More of the National Budget

by Eric Olander

Beginning in July, Kenya’s debt repayment will cross the psychologically important barrier of 1 trillion shillings ($9.15 billion), according to the National Treasury, prompting renewed concerns over the country’s ability to sustain a debt portfolio that has doubled in size since 2017.

Debt servicing costs are now the government’s largest expense, consuming 57% of all tax revenue.

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