The International Monetary Fund (IMF) has approved the release of a Ksh.28 billion ($235.6 million) loan to Kenya.
The new disbursement represents the third tranche of a 38-month budget support program, inked in April last year and which seeks to address Kenya’s debt vulnerabilities.
The approval takes
A nine-member International Monetary Fund (IMF) team began bailout talks on Monday in Sri Lanka’s capital with officials, including Prime Minister Ranil Wickremesinghe, on how to structure what will be Sri Lanka's 17th loan program with the global lender.
Economic mismanagement and the COVID-19 pandemic have
The International Monetary Fund (IMF) has reached an agreement to advance Kenya an extra Ksh.28 billion loan.
This is part of the Ksh.265 billion Special Drawing Right (SDR) the multilateral lender authorized in April last year.
The agreement will be subject to IMF management and the Executive
The International Monetary Fund is giving Uganda an additional Ksh.14.5 billion as part of an Extended Credit Facility Arrangement.
In June last year, the IMF board approved a Ksh.114.3 billion arrangement for Uganda, to help the country overcome the effects of the COVID-19 pandemic.
Under the Extended
The International Monetary Fund (IMF) on March 7 renewed its warning that funding for Somalia could be cut off if the government continues to delay elections in the troubled Horn of Africa nation.
The polls have been delayed for more than a year and the government
The executive board of the International Monetary Fund (IMF)
on Monday expressed its "full confidence" in its Managing Director
Kristalina Georgieva, who is facing allegations of data manipulation during her
stint as the World Bank's CEO in 2017.
"Having looked at all the evidence presented, the
executive board reaffirms its
The International Monetary Fund (IMF) has approved an
extension of debt relief for 24 poorer countries.
Debt relief extension could see Kenya benefit from it, considering it is listed among poor countries in the IMF book.
It is the fourth tranche of debt service relief from the
Afghanistan will no longer be able to access the International Monetary Fund (IMF) resources.
This follows the Taliban's takeover of the country last weekend, a situation that has left the country in political, economic, and social turmoil.
According to the BBC report, an IMF spokesperson said it
The International Monetary Fund (IMF) has cleared Kenya to
receive its second batch of an advanced loan facility of Ksh.43.8 billion.
It is the first reviews of the 38-month Extended Arrangement under the Extended Fund Facility (EFF) and the 38-month arrangement under Extended Credit Facility (ECF) for
International Monetary Fund has said that Kenya uses almost
half of its revenues collected to pay loans.
The multilateral fund agency said the condition is similar
to countries in the world who risk debt distress.
“General government debt has risen to 57 percent of GDP,
which is the highest in