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Oshin Pandey

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Sailor Miao

Associate Program Manager

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Policy Brief

Kenya’s USD-to-RMB Debt Conversion Was Really a Restructuring

2026-06-23

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June 23, 2026

Kenya’s switch to Chinese RMB denominated-debt was a restructuring in disguise

A new AidData policy note analyzes Kenya’s railway loan restructuring—and the potential implications for Ethiopia.