Kenya’s January payments towards the standard gauge railway (SGR) loans from China have appreciated by Sh14 billion on account of a weaker shilling that has inflated external debt and its service costs.
World Bank data on Kenya’s external debt payments shows that the country will spend $536.9 million (Sh84.8 billion) to service the loans, which are paid on semi-annual basis in January and July. The payments comprise a principal amount of $289.95 million and interest of $246.96 million.
