
Audio By Carbonatix
Kenya wants its next International Monetary Fund programme to be a funded one, its central bank governor said on Wednesday, ahead of an IMF visit next month to discuss a new programme request.
In March, Kenya and the IMF abandoned the final review of the East African nation's last support programme, and Kenya did not receive the last batch of its $3.6 billion Extended Fund Facility and Extended Credit Facility, worth $800 million.
Kenya had struggled to rein in its fiscal deficit and boost revenue collection under the programme, two of the main requirements of the IMF, after it was forced to scrap planned tax hikes because of deadly nationwide protests.
The consensus among financial analysts is that Kenya needs a new loan from the IMF to anchor external debt repayments.
But given its difficulties meeting IMF targets under the last programme, some had thought the country could opt for a non-funded programme next time around.
"Our preference will be to have a funded programme, and that is what we have expressed to the IMF board," Governor Kamau Thugge told a press conference, a day after the central bank cut its benchmark lending rate for the seventh meeting running.
Latest Stories
-
Prudential Life settles GH¢100,000 medical bills under its PRUCares Valentine Experience Initiative
5 hours -
Wa West Picnic: Peter Lanchene Toobu champions peace, health and unity in landmark celebration
5 hours -
Dr Mensah Market flooded after downpour in Kumasi
5 hours -
Armed men reportedly storm Adjen Kotoku Onion Market amid tensions
6 hours -
Tecco Mensah writes: Why football fans must look beyond statistics
7 hours -
Police recover stolen Honda CR-V in Kumasi within 48 hours
8 hours -
Apetorku Gbodzi 2026 Festival opens in Dagbamete with development focus
8 hours -
President Mahama arrives in Lyon to co-chair One Health Summit
8 hours -
Beverly View Plus Hotel draws crowds amid coastal Easter rush in Volta
8 hours -
Maiden Zongo Festival held in Wa amid calls to tackle drug abuse among the youth
8 hours -
FDA warns of fake HIV test kits on Ghanaian market
9 hours -
Africa urged to build resilient health systems as donor support tightens
9 hours -
Easter gesture: Ablakwa settles medical bills for 85 North Tongu constituents
11 hours -
Africa must harness its population strength—Titus-Glover
11 hours -
Visa-free access doesn’t mean unlimited stay – Lom Ahlijah
11 hours