The executive board of the IMF recently approved a $447.39 million loan to Kenya to help buffer the country’s foreign exchange reserves which had fallen to just 3.98 months of import cover below the legal threshold of four months.
The conversation between Kenyan officials and representatives from the International Monetary Fund yielded a welcome result for the Kenyan government.
The IMF deputy managing director, Antoinette Sayeh, stated, “Kenya’s commitment to its economic programme supported by the Fund’s EFF and the ECF arrangements is anchoring debt sustainability.
