Kenya hikes fares on Chinese-built railway to tackle mounting debt
Fox News
Kenya announced a steep increase in passenger fares on its Chinese-built Standard Gauge Railway, a 290-mile span of track connecting Nairobi to Mombasa.
Kenya Railways cited the global rise in fuel prices: "This increase is informed by changes in the energy and petroleum sector, where prices of fuel have significantly increased, thus affecting the cost of our operations."
Wednesday’s announcement came days after Kenya’s central bank governor, Kamau Thugge, said the Kenyan shilling had for years been overvalued by 25%, which " led the country to maintain an artificially strong exchange rate."
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