Kenya Negotiates with China to Switch Dollar Rail Loan to Yuan
Kenya's Bold Financial Move: Turning to China's Yuan to Ease Debt
Kenya is taking a groundbreaking step towards easing its financial burdens by engaging in talks with China to convert a significant railway loan from U.S. dollars to Chinese yuan. This strategic move, confirmed by an adviser to Finance Minister John Mbadi, has the potential to reshape economic relations and aid in curbing Kenya's burgeoning debt.
A Monumental Infrastructure Undertaking
The loan in question was pivotal in funding one of Kenya's most…