International Monetary Fund Stories
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.
Mahama said the IMF had agreed to send an early mission to conduct a regular review.
The warning follows the IMF's approval in October of a Sh78 billion loan to Kenya. The decision was part of a review process disrupted earlier this ye...
According to the IMF, reducing interest rates in a low-inflation environment risks fueling inflation and may also erode Kenya’s competitive edge in at...
Kenya's successful Eurobond issuance in February, which enabled it buy back a significant portion of the 2024 Eurobond, is the driving force behind th...
Gender pay gaps are also often wide as a result of women working in less quality jobs compared to their male counterpart.
Tthe IMF has lowered Kenya's GDP growth forecast for the country to 5.0 per cent.
At the same time, the IMF's Fiscal Monitor showed global government debt is set to top $100 trillion for the first time this year.
Both sides announced a staff-level agreement on the review late last month, which was then submitted to the board for consideration.
This funding will enhance the government's reserves, which are expected to reach $1.9 billion (Sh245 billion) by the end of the year.
Perceived government waste and corruption were a core driver of mass demonstrations in June.
Kenyan authorities are looking for fresh revenue-raising measures after rescinding the 2024 tax increases.
Developing countries have been paying bondholders a premium to compensate them for providing financing to borrowers that are perceived to be risky.
"Kenya is diversifying its sources of budget support," said the source, adding the "deal is as good as done."
The lender says developing nations will be looking to leverage the easing cost of accessing loans to acquire more funding.
A latest debt, macroeconomics, trade and investment update by the World Bank, says the two lenders will jointly remain firm on their push for domestic...
It remains to be seen how PM Abiy will navigate these reforms, especially in light of the developments in Kenya and Ghana where both countries are fac...
