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China to Kenya: It’s Payback Time

Kenya’s National Treasury has resumed debt repayments to China after a 6-month debt deferral period expired in June. The Kenyan government had hoped to be able to extend that through the end of the year but Chinese creditors, namely the China Exim Bank, did not like that idea at all.

Apparently, things got so bad that Chinese creditors halted disbursements for projects that are underway right now in Kenya…. bringing construction to a halt in some cases.

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