The approval of fresh funding would bring the IMF’s financial support to Sh427 billion.
Proceeds from the review are set to prop up Kenya's foreign exchange reserves, with the government expected to draw on the buffer to meet the Sh319 billion ($2 billion) Eurobond maturing in June.
The Washington-based Executive Board of the International Monetary Fund (IMF) is set to meet on Wednesday (January 17) to complete the sixth review of the institution’s arrangement with Kenya including giving the green light on the disbursement of fresh funds.
The meeting will be in the backdrop of November’s staff level agreements on economic policies and reforms required to conclude the six reviews and augmentation of the arrangements.
