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There’s rising concern that the depreciating worth of the Kenyan foreign money is tied to the nation’s mounting debt servicing prices to Chinese language collectors. Again in July, the Kenyan Treasury started repaying the loans used to construct the Customary Gauge Railway after the China Exim Financial institution refused the federal government’s request to increase a debt servicing vacation for an additional six months.
Throughout the identical interval, the worth of the Kenyan foreign money, the shilling, started to slip from 107.8 to the greenback to a historic low of 112.89 in Friday buying and selling.
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