Country: Kenya
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First Moody’s Now the IMF, Warnings About Kenya’s Debt Levels Are Starting to Pile Up
The International Monetary Fund raised Kenya’s risk of debt distress to high from moderate in a statement on Tuesday because of the costly impact of the worsening COVID-19 crisis. The IMF said that even though Kenya's debt load is still manageable, the ...
165 Kenyan Evacuees Return Home From China
165 Kenyans stranded in China arrived in the early hours Sunday morning at Jomo Kenyatta International Airport. Kenyan ambassador to China, Sarah Serem, helped to coordinate the charter flight from Guangzhou back to Nairobi and was at the airport in southern ...
Moody’s Warns That Kenya’s High Borrowing Costs Could Prompt a Downgrade
The global credit rating agency Moody's is becoming increasingly concerned that Kenya will not be able to keep up with the payments on its comparatively expensive loan portfolio. Moody's adjusted Kenya's rating from B2 stable to B2 ...
Africa’s Cost of Borrowing is Orders of Magnitude Higher Than the Rest of the World
To understand why African finance leaders are so determined to avoid a default on their Eurobond debt all you have to do is look at the current interest rates that many of the continent's largest economies are paying for their government bonds.
One of Kenya’s Major Newspapers Wades Into the Sensitive Debate Over Chinese Accountability for COVID-19
One of Kenya's leading newspapers waded into the highly sensitive territory over accountability for COVID-19 and the origin of the deadly virus. Although today's editorial in The Standard newspaper is the publication's first on the topic, the paper published two columns ...
Outspoken Kenyan MP Warns China: We Can Do to Your People What You Did to Ours
Kenyan MP Babu Owino issued a stark warning to the Chinese government this week during a press conference in Nairobi where he condemned the reported recent maltreatment and discrimination against Kenyans and other Africans in Guangzhou. "To the Chinese government," he said, ...
A Progress Report by the UN’s Vera Songwe on the Status of African Debt Relief
Economic conditions in a number of African countries are worsening by the day. Lockdowns and a plummet in global commodity prices brought on by the COVID-19 pandemic have led to severe economic repercussions across the continent.
African Celebrities, Billionaires, Activists, and Students All Speak Out on Current Challenges in the China-Africa Relationship
In the immediate aftermath of the crisis in Guangzhou, the discourse over what happened was dominated by political leaders, official spokespeople on all sides, and state-run media outlets. Civil society stakeholders, for the most part, were not as vocal. Now, that's all changed and a wide cross-section ...
This Is What Twitter Data Tells Us About the Worst Week in China-Africa Relations
Last week, the world witnessed a defining moment in China-Africa relations. Amidst fears of healthcare and economic collapse in Africa, the unified voice of Africans against the reported maltreatment of Africans in China on social media became a forceful agent in diplomatic affairs between the two parties. ...
Brookings Scholar Yun Sun Provides a Road Map For Chinese Debt Relief in Africa
There's growing anticipation over how China will respond to Africa's calls for debt relief amid the worsening COVID-19 crisis that is ravaging economies across the continent. So far, there have only been a few hints as to how China will proceed, ...
A New Wave of Anger and Frustration Over the Treatment of Africans in China Sweeps Across the Continent
This weekend, African politicians in several countries convened press conferences, took to Twitter and signed joint letters of protest to register their outrage over allegations of poor treatment of African migrants in China. This seems to have been provoked by a new wave of videos and other ...
African Leaders Declare Crisis in Guangzhou is “Sorted Out.” What Did We Learn?
Less than one week after alarming videos, photos and accounts of African migrants being forced out of their homes and hotels in the southern China city of Guangzhou, the story has been “sorted out” in the eyes of many ...