Kenya keen to renegotiate debt, fees with China as coronavirus hits unprofitable Mombasa-Naivasha rail line

//Kenya keen to renegotiate debt, fees with China as coronavirus hits unprofitable Mombasa-Naivasha rail line

Kenya keen to renegotiate debt, fees with China as coronavirus hits unprofitable Mombasa-Naivasha rail line

Kenya’s debt troubles on its Chinese-built Mombasa-Naivasha Standard Gauge Railway line underline an endemic problem with large-scale Belt and Road projects that have been made much worse by the coronavirus pandemic.These ambitious, and often ill-conceived projects, are brought to reality with generous Chinese funding, but unravel due to poor management by local governments, sometimes through misconduct, trade lawyers and analysts said.Poor profitability, made worse by tough Covid-19 economic…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-10-03T08:00:15+00:00 October 3rd, 2020|World|Comments Off on Kenya keen to renegotiate debt, fees with China as coronavirus hits unprofitable Mombasa-Naivasha rail line