China Delays $245 Million of Kenyan Government Debt Payments
- Kenya had been scheduled to make payments through June
- Chinese relief follows Paris Club’s offer of payment delay
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China postponed Kenyan debt repayments due over the next six months, a week after the Paris Club of creditors offered the East African nation similar relief.
Kenya had been scheduled to pay 27 billion shillings ($245 million) to China from January through June, Treasury Secretary Ukur Yatani said Wednesday on Spice FM radio in the capital, Nairobi. The delayed payments were agreed after talks with the Chinese government, he said.