Kenya’s public debt load recently surpassed the 5 trillion shillings mark ($50 billion), renewing questions over the government’s China now owns 72% of Kenya 's external debt, one times more than the share of China – the Chinese nation's second -largest creditor. Kenya 's public debt recently surged to $ $50 billion , renewing concerns that the government will be unable to pay for its borrowing binge. The government argues that Chinese lending is part of its strategy to upgrade infrastructure but critics warn it will lead to further dependence on Beijing that could entrap the nation.
China now owns 72% of Kenya 's external debt, one times more than the share of China – the Chinese nation's second -largest creditor. Kenya 's public debt recently surged to $ $50 billion , renewing concerns that the government will be unable to pay for its borrowing binge. The government argues that Chinese lending is part of its strategy to upgrade infrastructure but critics warn it will lead to further dependence on Beijing that could entrap the nation.