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In a period of six months this year, the Jubilee government acquired a foreign debt of Sh226 billion. With that, Kenya’s total foreign debt has reached over Sh3 trillion, the highest in the region.
A document tabled before the National Assembly last week showed that during the six-month period, the country signed 18 loan agreements to finance various projects, including Sh60 billion from the Chinese ‘to ease the cost of doing business' in the country, and a Sh20 billion syndicated facility to help revive the troubled national carrier, Kenya Airways (KQ).
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