The International Monetary Fund (IMF) announced on Wednesday that its staff will visit Kenya from September 25 to October 9 for discussions with government officials on a potential IMF-backed programme aimed at stabilising the country’s economy.
Haimanot Teferra, the IMF’s mission chief for Kenya, said the visit follows a request by Kenyan authorities.
“IMF remains committed to supporting Kenya in its efforts to maintain macroeconomic stability, safeguard debt sustainability, and strengthen governance,” she said, adding that the mission looks forward to “engaging constructively with authorities and other stakeholders.”
Kenya’s central bank governor, Kamau Thugge, confirmed in August that the government is seeking a funded programme, which analysts say will be critical in anchoring external debt repayments and easing fiscal pressures.
The new talks come after Kenya and the IMF abandoned the final review of their previous $3.6 billion Extended Fund Facility and Extended Credit Facility programme in March, forfeiting a final $800 million disbursement.
The review collapsed as Kenya struggled to meet IMF requirements to reduce its fiscal deficit and raise revenue, with the government forced to roll back planned tax increases following nationwide protests that turned deadly.
Kenya faces mounting debt obligations, with external repayments expected to peak in 2025. A fresh IMF programme is seen as key to restoring investor confidence and unlocking concessional financing to avert potential liquidity stress.
Source: Reuters
Written By Rodney Mbua
