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Why Kenya had borrow to repay a Sh17b Chinese loan

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Kenya paid off a Chinese principal loan of Sh17.5 billion with another debt in the last financial year exposing the country’s limited reserves, a National Treasury document shows.

This even as the country restructured another Sh28 billion from the Exim Bank of China in what was aimed at giving it some breathing space in its debt repayment marathon in the Financial Year 2020-2021.

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