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Kenya pushes for new IMF loan deal

IMF headquarters

The International Monetary Fund (IMF) headquarters in Washington D.C.

Photo credit: Reuters

By  Reuters

The International Monetary Fund said on Friday that a staff visit to Kenya took stock of the latest macroeconomic developments and discussed reforms that could pave the way for a new programme.

The IMF said in a statement that policy priorities included "measures to enhance fiscal policy credibility, ensure sustainability of public finances and debt, and minimize fiscal, financial, and external sector risks".

Read: Kenya converts Sh452bn Chinese railway loans into yuan to reduce dollar debt risk

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Discussions with Kenyan authorities would continue during the upcoming IMF Annual Meetings, it added.

The East African nation's $3.6 billion (Sh467 billion) programme with the IMF expired earlier this year, and some officials have expressed interest in getting a new one that will include a lending component.

Some financial analysts have said that Kenya needs a new loan deal from the Washington-based Fund to anchor its external debt repayments.
 

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