The International Monetary Fund (IMF) is currently assessing the progress of Kenya under its financial programs, including the Extended Credit Facility (ECF) and Extended Fund Facility (EFF), as well as the Resilient Sustainability Facility, during a mission led by Ms. Haimanot Teferra. The visit by the IMF team, which includes meetings with Treasury CS Prof. Ndung'u and PSs Kiptoock and Muhati, coincides with the announcement of additional financial support for Kenya. The nation is set to receive a fresh $1.2 billion loan from the World Bank to supplement its budget for the fiscal year ending June 30. Moreover, the IMF has indicated plans to disburse additional financing to Kenya, following the completion of an ongoing review of the nation's program initiated in 2021. This includes a $4.43B loan program, with expected disbursements of $937M under the EFF and ECF, and $59M dedicated to combating climate change. These financial injections are anticipated to bolster Kenya's foreign exchange reserves.
The IMF plans to disburse additional financing to Kenya after completing an ongoing review of the nation’s program signed in 2021 https://t.co/7fbvWQUT2n
The IMF's current mission to Kenya is here to assess progress on a $4.43B loan program & is expected to disburse: —$937M under EFF & ECF —$59M to fight climate change This boost, along with $1.2B from the World Bank, will strengthen Kenya's forex reserves. https://t.co/AiABqxeK03 https://t.co/Ovb8MB7MLU
The IMF plans to disburse additional financing to Kenya after completing an ongoing review of the nation’s program signed in 2021 https://t.co/cS5xTleWHk
Kenya gets a fresh new $1.2 billion loan from the World Bank. The funds are meant to supplement the budget for the fiscal year ending June 30 🥶. https://t.co/2VLf3VzXCr
The IMF is in Town Treasury CS Prof. Ndung'u, PS @kiptoock & PS @JMuhati met with the IMF mission led by Ms. Haimanot Teferra to assess the progress of the Kenya-IMF Program under the Extended Credit Facility/Extended Fund Facility & the Resilient Sustainability Facility. https://t.co/stv3pi4kVv