IMF loans to Kenya triple to $2.21bn underfunding plan
Industry players say woes bedevilling regional bourses are largely result from rising inflation, weakening currencies, lucrative government bond market and the rising interest rates in the US and Europe. PHOTO | SHUTTERSTOCK
Loans tapped from the International Monetary Fund (IMF) have tripled to Ksh335.5 billion ($2.21 billion) as of June this year from January 2021, mirroring the effect of Kenya’s multi-year credit facility with the multilateral lender.
The notable increase from Ksh111.3 billion ($ in January 2021 comes slightly over two years since Kenya reached a 48-month arrangement with the Fund under its Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements in February 2021.
