IMF agrees to lend Kenya $447 million for budgetary support
Kenyan President William Ruto (right) during a meeting with IMF Managing Director Kristalina Georgieva in Sharma El-Sheikh, Egypt. The IMF has approved a $447.39 million loan to Kenya. PHOTO | PCS
The executive board of the International Monetary Fund (IMF) has approved a Ksh55.1 billion ($447.39 million) loan to Kenya, paving way for the immediate release of the funds to the exchequer for budgetary support.
This follows the fourth review of the $2.34 billion (Ksh288 billion) 38-month Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements with Kenya.
