Kenya slashes dollar debt to record low as Chinese yuan gains ground

President William Ruto’s administration has reduced the share of its external debt denominated in US dollars to the lowest level on record...

✨ Key Highlights

The Kenyan government, under President William Ruto's administration, has successfully reduced its US dollar-denominated external debt to a record low.

The share of debt in US dollars has reached its lowest point on record.
Key player: President William Ruto's administration.
This strategic pivot involves an acceleration towards using the Chinese yuan to mitigate exchange rate risks.

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