IMF,Kenya IMF Stories
Kenya has struggled to rein in its fiscal deficit and boost revenue collection, two of the main requirements of the IMF.
Kenya’s debt-to-GDP ratio stood at 65.7 per cent as of June 2024—well above the 55 per cent sustainability threshold.
Under the arrangements, total IMF financial commitment stands at about $3.61 billion (Sh467.3 billion), of which about $3.12 billion (Sh403.8 billion)...
Kenya needs continued support to keep its economy on track after its debt-servicing costs surged due to a borrowing spree over the past decade.
Teferra reaffirmed the IMF's commitment to deploy the Extended Fund Facility, Extended Credit Facility and Rapid Credit Facility programmes to support...
Mudavadi urged the IMF team to engage various stakeholders, including officials from the national and county governments.
These loans, arguably, help the country address challenges such as budget deficits, maintaining public debt sustainability and alleviating foreign exc...
The East African nation defaulted on its sole $1 billion bond in December 2023, and negotiations over restructuring the debt have been slow and acrimo...
A rollover involves renewing a loan instead of repaying it at maturity, with the outstanding principal and other components carried forward, with or w...
Ethiopia has been struggling to clear its mountainous debt and in 2023 the country defaulted on its $1 billion Eurobond.
The rise was attributed to the exchange rate adjustment and new loans amounting to $1.6 billion, secured from the International Monetary Fund (IMF) an...
The IMF's role in Ethiopia's debt overhaul has come under criticism from some quarters, including from World Bank staff, who questioned the conclusion...
The percentage of experts forecasting stronger growth for Sub-Saharan Africa has increased to 78% this year, up from 65% last year, signalling a posit...
The authors suggest that based on the DSA, Ethiopia is facing a short-term liquidity crunch, and not a long-term solvency issue, a point of contention...
Last month, Ethiopia and IMF agreed on the second review of a $3.4 billion financing programme.
With international cooperation and a commitment to reforms, Somalia is poised to rebuild its economy and improve the lives of its citizens.
Cyclone Chido, which made landfall in northern Mozambique over the weekend killing at least 34 people, has also dampened growth prospects.
The G-to-G arrangement allows Kenya to import refined petroleum products and make payments in Kenyan shillings, rather than in US dollars.
Mahama said the IMF had agreed to send an early mission to conduct a regular review.
