Economy

IMF to Review Kenya’s $3.9 Billion Loan Program on October 30

Kenya, which faces a high risk of debt distress, has sought IMF support to address its financial vulnerabilities. The country expects to receive a total of $1 billion from the IMF by June 2025.

October 18, 2024
1,084 1 minute read
IMF to Review Kenya’s $3.9 Billion Loan Program on October 30

The International Monetary Fund (IMF) executive board is set to deliberate the next disbursement in Kenya’s $3.9 billion loan program on October 30, according to sources familiar with the process.

The meeting is very crucial because it intends to unlock Kenya’s $600 million.

While IMF staff reached an initial agreement with Kenyan officials in June, discussions were interrupted following anti-government protests related to the program’s reforms, which resulted in the deaths of at least 60 people. The protests led to renewed negotiations between IMF officials an Nairobi.

Kenya, which faces a high risk of debt distress, has sought IMF support to address its financial vulnerabilities. The country expects to receive a total of $1 billion from the IMF by June 2025.

Sources confirm that the IMF has informed Kenyan authorities about the October 30 meeting, although the agenda is still tentative.

Ongoing Talks

An IMF spokesperson said no official date has been confirmed for the board’s meeting and that discussions are still underway. These talks are evaluating recent fiscal developments and the potential implications of recent court rulings.

Also Read: Kenya to Decide on Future IMF Loans as Current Program Nears Expiry

The upcoming review will also address Kenya’s climate-financing program under the IMF’s resilience and sustainability facility.

The IMF review process faced delays earlier this year when widespread protests erupted in June over proposed taxes on essential goods like bread and diapers. The government eventually dropped the tax plans, which has caused a broader budget deficit.

Adapting to Circumstances

In an August statement, the IMF said “each program review considers evolving circumstances,” suggesting flexibility in response to changing economic conditions.

An IMF team visited Kenya in September to assess the economic impact of the abandoned tax measures. On October 9, Central Bank of Kenya (CBK) Governor Kamau Thugge announced Kenya was nearing the final stages of an agreement with the IMF. He also mentioned that the IMF will combine its seventh and eighth reviews of Kenya’s loan program.

Initially, the eighth review was planned for late October, with the ninth and final review scheduled for March 2025, according to a January IMF report.

October 18, 2024
1,084 1 minute read
Monitor Your Business Transaction
Photo of Lawrence Baraza

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

Related Articles

Виртуальное казино с Live-играми: атмосфера настоящего места

6 hours ago

Цифровое игорное заведение с живыми играми и игровыми автоматами

11 hours ago

Легальный портал для интернет-игр: возможности и особенности

24 hours ago

bonuses for new and you can typical users

1 day ago

1,084 Comments

  514. The volatility of this game is high, which makes it a good match for our preferred slot machine strategies. Our slot strategies target the highest possible volatility. Push Gaming delivers top-notch mobile casino entertainment. Enjoy fan-favourites like Jammin’ Jars, Razor Shark, and Wild Swarm slot game. The first Megaways slot game to make it big was Bonanza Megaways, which was released back in 2016. It was an instant success among slot players, making it one of the greatest slot games of all time. Megaways was created by an Australian company called Big Time Gaming and Megaways slots are now licensed by all major slot providers. Its distinguishing feature is its innovative reel mechanic, which randomly gives thousands and sometimes millions of ways to win on each spin. They’ve caused such a stir that most UK slot sites have dedicated Megaways sections. 
    https://cavenbridge.kolaborate-prism.dev/football-x-by-smartsoft-analysis-of-cashout-denial-rates-and-player-experience-in-india/
    Not only do we have online casino games that use an RNG to generate outcomes, but we also offer live casino games or live dealer games as they are sometimes known. 877-8-HOPENY or text HOPENY (467369) (NY) You claimed’t must reload each time you play a different online game try starred, and you also appreciate a larger playing collection. These types of real cash casinos are very unusual inside the 2023 plus the app work simply for the pc gizmos. Real money gambling enterprise no-deposit extra is difficult to find as it’s a danger-free bonus. If you’re in search of an online casino that boasts a vast array of incredible online slots and casino games, you’ve landed in the perfect spot! Bodog stands as a top online casino which players have trusted since 1994. Our site is one of Canada’s top gaming destinations with more than 1,000 real money casino games and features new slots and classic table games as well as real live dealer experiences.

    Reply

  538. Официальный канал Live-казино: рейтинги проверенных площадок, актуальные зеркала и бонусы. Разбираем стратегии для рулетки, блэкджека и игровых шоу. Эксклюзивные промокоды для максимального старта. Регистрируйся, играй и выводи выигрыши!
    Выбери свою игру: https://t.me/iGaming_live

    Reply

  909. I like to spend my free time by scaning various internet recourses. Today I came across your site and I found it is as one of the best free resources available! Well done! Keep on this quality!

    Reply

  916. Thank you pertaining to sharing the following great subject matter on your website. I ran into it on google. I am going to check to come back after you publish additional aricles.

    Reply

  924. HBet – Cổng giải trí trực tuyến hàng đầu, quy tụ hàng ngàn trò chơi cá cược thể thao, casino, slot game và bắn cá đổi thưởng. Giao diện mượt mà, bảo mật tuyệt …

    Reply

  937. Эта информационная заметка предлагает лаконичное и четкое освещение актуальных вопросов. Здесь вы найдете ключевые факты и основную информацию по теме, которые помогут вам сформировать собственное мнение и повысить уровень осведомленности.
    Исследовать вопрос подробнее – https://quick-vyvod-iz-zapoya-1.ru/

    Reply

  946. Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you can do with some pics to drive the message home a bit, but other than that, this is wonderful blog. A great read. I’ll certainly be back.

    Reply

  1027. The post is absolutely fantastic! Lots of great info and inspiration, both of which we all need! Also like to admire the time and effort you put into your website and detailed info you offer! I will bookmark your website!

    Reply

  1062. Hello there I am so delighted I found your weblog, I really found you by mistake, while I was searching on Google for something else, Anyhow I am here now and would just like to say cheers for a remarkable post and a all round exciting blog (I also love the theme/design), I don’t have time to browse it all at the moment but I have book-marked it and also included your RSS feeds, so when I have time I will be back to read a lot more, Please do keep up the superb work.

    Reply

  1070. Τα online καζίνο αποτελούν σήμερα μια από τις πιο δημοφιλείς μορφές ψυχαγωγίας στην Ελλάδα. Η αγάπη των Ελλήνων παικτών για αυτή τη μορφή διασκέδασης μεγαλώνει συνεχώς, και μαζί με αυτή την αύξηση, πολλαπλασιάζονται και οι επιλογές σε διαδικτυακά καζίνο. Αν θέλεις να βρεις τα καλύτερα και πιο ασφαλή καζίνο για να παίξεις, είναι σημαντικό να ξέρεις πώς να ξεχωρίζεις τις αξιόπιστες πλατφόρμες από τις υπόλοιπες. Στο παρακάτω άρθρο θα βρεις χρήσιμες πληροφορίες και συμβουλές για να κάνεις την καλύτερη επιλογή και να απολαύσεις το παιχνίδι με ασφάλεια και διασκέδαση.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button