The International Monetary Fund (IMF) headquarters building
Thu, 10 Oct 2024
Source: businessinsiderafrica
Kenya is seeking additional loans from the International Monetary Fund (IMF) despite efforts to reduce its debt burden.
The government is in final discussions with the IMF to merge the seventh and eighth assessments of its support program, anticipating more funding by year-end.
Central Bank Governor Kamau Thugge confirmed the fiscal framework is agreed upon, and the central bank is accumulating US dollars to mitigate short-term shocks.
However, recent protests against further IMF loans highlight concerns over past funds being mismanaged or lost to corruption, leading demonstrators to urge the IMF to reconsider future lending.
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Source: businessinsiderafrica