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Kenya raises passenger fares on a Chinese-built train

Kenya has announced a significant increase in Passenger Fares on the Chinese-built Standard Gauge Railway due to the country's struggle to repay loans owed to Beijing and higher fuel prices. The 470-kilometer journey between Mombasa and Nairobi will cost $30 in first class, up from $19, and $10 in economy, up from $6. The increase is attributed to the global rise in fuel prices. Kenya's central bank governor recently stated that the Kenyan shilling has been overvalued by 25%. The country's overall debts currently stand at a record $70 billion.

The post Kenya Raises Passenger Fares on a Chinese-built train appeared first on Balanced News Summary.



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