• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Kenya and China reach agreement on debt deferral

5 years ago
in Economy, highlights, Home, home-news, latest News
1 min read
0 0
0
Debt - norvanreports

Debt - norvanreports

60
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

China and Kenya have agreed to a six-month debt repayment holiday worth $245m. Treasury Secretary Ukur Yatani announced the deal during a radio interview on 20 January when he said the deferral “will give us an opportunity and break on the kind of liquidity that we desire.”

Although Yatani did not provide details, he gave the broad outlines of the deal according to a report by Citizen TV:

  • Kenya will have the next six years to make payments on the suspended debt service costs including a one-year grace period after June 2021.
  • Proceeds from the savings are required to be channelled towards combatting the pandemic.
  • Kenya is further obligated to make public its entire stock of debt.

Chinese and Kenyan negotiators finalised the arrangement less than 24 hours before a critical deadline when a $1.4bn loan from the China Exim Bank to build the Nairobi-to-Naivasha railway would have been due.

“We were making every arrangement to pay by [Thursday 21 January], but two days ago after our engagement, we are happy to get feedback that we don’t need to pay now,” Yatani said.

The $245m debt rescheduling deal with the Chinese follows a similar $300m arrangement that was reached last week with Paris Club lenders.

Kenya, however, will not seek similar suspensions from either multilateral or commercial lenders “to safeguard its sovereign rating and its future access to international financial markets,” according to the Finance Minister.

Source: theafricareport
Via: norvanreports
Tags: debt deferralKenya and ChinaParis Club lenderssix-month debt repaymentstock of debt
No Result
View All Result

Highlights

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

GoldBold Opens Licensing for Jewellery, Fabrication and Refinery

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

Trending

Banking & Finance

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold A...

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

October 23, 2025

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

October 23, 2025

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.