China, Kenya agree repayment holiday on US$245 million worth of debt

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China has approved Kenya’s request for a payment holiday on US$245 million worth of debt that was due between January and June, giving the East African nation breathing space to revive its economy, which has been ravaged by the coronavirus pandemic.Kenya’s National Treasury Secretary Ukur Yatani said the deal with Beijing would give the country “the opportunity and a break on the kind of liquidity that we desire”.The reprieve came just hours before Kenya was set to make its first repayment on a…

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