NAIROBI, Sept 19 (NNN-KBC) — The International Monetary Fund (IMF) will continue to support Kenya’s economic and fiscal reforms under ongoing program.
During the recently concluded IMF staff meeting with government officials, the lender said its fully committed to support Kenya to identify policies that could support the completion of the reviews under the ongoing program as soon as feasible.
“The authorities expressed commitment to advancing economic and governance reforms which are crucial for fostering sustainable and inclusive growth that benefits all Kenyans. We will continue our discussions with the authorities,” said Haimanot Teferra who lead the team.
Under the 38-month Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) approved in 2021 by the IMF Executive Board, Kenya is expected to secure $2.34 billion from IMF to support COVID-19 response and address debt vulnerabilities.
Kenya secured additional $941 million under the program in January this year bringing total IMF commitment to $3.9 billion. — NNN-KBC
