Kenya Eyes New IMF Loan Under Normal Access Terms
Nairobi — Kenya is in talks with the International Monetary Fund (IMF) for a new loan arrangement, with discussions expected to advance further during the upcoming IMF-World Bank Spring Meetings in Washington, D.C.
National Treasury officials have confirmed the engagement, emphasizing that the country will likely seek normal access terms, rather than exceptional access, which applies to countries facing more severe balance of payments challenges.
“We are in discussions with the IMF and will continue these during the Spring Meetings,” CBK Governor Kamau Thugge said.
“The amounts are not yet known at this stage, but we would probably be asking for normal access.”
This new programme comes as Kenya navigates a challenging fiscal environment, marked by growing debt obligations, a depreciating shilling, and the need to sustain public investments amid tight global financial conditions.
A new agreement would help anchor investor confidence, unlock concessional financing, and support Kenya’s ongoing fiscal and structural reforms.
Kenya is currently under a 38-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) programme with the IMF, approved in April 2021 and later augmented in 2023, bringing total support to over $3.5 billion.
The Treasury is expected to outline key reform priorities and financing needs during the Spring Meetings, as part of the broader efforts to maintain macroeconomic stability and promote inclusive growth.
By Capital FM.
