IMF gives Kenya an extra Kes152 billion loan
The International Monetary Fund (IMF) have reached a deal to boost loans to Kenya by an extra $1.1 billion (Kes152 billion) and expand the Fund programme by another two years, a move that is bound to calm fears over the country’s ability to repay the Eurobond next year. IMF agreed to give Kenya additional support under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements as well as open a new line of credit under the Resilience and Sustainability Facility (RSF) arrangement that will run for a 20 month period. The additional resources bring total programme loans to $3.52 billion, funds which will…
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