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
-
Four burnt, several injured in Nsawam-Accra tanker explosion
41 minutes -
Police arrest suspect in murder of officer at Zebilla
59 minutes -
SUSEC–Abesim and Adomako–Watchman roads set for upgrade in Sunyani
1 hour -
CDD-Ghana calls for national debate on campaign financing
2 hours -
INTERPOL’s decision on Ofori-Atta: What it means for his U.S. bond hearing and the legal road ahead
2 hours -
Parties can use filing fees to cover delegates’ costs, end vote-buying – Barker-Vormawor
2 hours -
Boxing in Bukom: Five months without the bell
2 hours -
Political parties can end vote-buying by disqualifying offenders – Barker-Vormawor
3 hours -
Ministry of Gender investigates alleged sharing of intimate videos by foreign national
3 hours -
Cocoa must be treated as business, not politics- Nana Aduna II
3 hours -
Barker-Vormawor urges scrutiny of COCOBOD reforms, warns of continued debt burden
4 hours -
Prince Adu-Owusu: Beyond flowers and grand gestures — How do you want to be loved?
4 hours -
Multiple vehicles burnt as fuel tanker explodes on Nsawam-Accra highway
4 hours -
Former COCOBOD administration spent syndicated loans on themselves, not farmers – Inusah Fuseini
4 hours -
Mahama vows to end export of raw mineral ores by 2030, shifts focus to local processing
5 hours
