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IMF to Delay Disbursing KSh28.7 Billion Loan to Kenya

Eunniah MbabazibyEunniah Mbabazi
June 23, 2022
in Kenyan News, Public Policy
Reading Time: 1 min read
IMF to Delay Disbursing KSh28.7 Billion Loan to Kenya

The International Monetary Fund (IMF) Executive Board is set to delay its approval to disburse a KSh28.7 billion loan to Kenya.

While the country had hoped to get the board’s nod to wire the funds which are part of a three-year loan program before June 30, the IMF Executive Board calendar to the end of the month does not include discussions on the third-tranche disbursement with Kenya.

Delays in the disbursement are set to leave a marginal hole in financing the budget to June 30 even as the National Treasury works to acquire a syndicated loan to plug an even wider gap in the budget.

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In April, IMF staff and Kenyan authorities reached a staff level agreement in economic reviews marking the third formal assessment of the 38-month program that will see cumulative disbursements of KSh275 billion to Kenya.

See Also:

World Bank Approves $474 Million Loan for South Africa


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