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Kenya and IMF to discuss new lending programme
Gulf Today
|March 18, 2025
Kenya and the International Monetary Fund will discuss a new lending programme for the East African nation, as both sides agreed to abandon a ninth review of the current $3.6 billion loan. Kenya needs continued support to keep itseconomy on track after its debt-servicing costs surged due to a borrowing spree over the past decade.
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“The Kenyan authorities and IMF staff have reached an understanding that the ninth review under the current Extended Fund Facility and Extended Credit Facility programs will not proceed,” Haimanot Teferra, the IMF's mission chief, said in a statement issued at the end of a visit to Nairobi.
This story is from the March 18, 2025 edition of Gulf Today.
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