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
-
Afoko can give NPP ‘new identity’ ahead of 2028 to overcome NDC – Political scientist, Dr Amakye-Boateng
2 minutes -
2 injured amid gunshots during raid at Nawara Mining office at Nsuapemso
6 minutes -
St Augustine’s College retains 2026 National Investment Quiz title
10 minutes -
KNUST Nursing and Midwifery School staff recognised at 2026 Health Ministry Excellence Awards
19 minutes -
JoyNews’ Esther Esi Nkrumah selected for UK Media Excellence for Emerging Technology Fellowship
24 minutes -
Five NDC youth organisers in Western Region pay courtesy call on Armah-Kofi Buah
36 minutes -
NACOC demands tighter port controls to prevent Tema Harbour drug trafficking
39 minutes -
Ghana’s startup ecosystem must build sustainability into innovation – Ghana Hubs Network
50 minutes -
Friday’s beachfront demolition was carried out at Labadi Beach Hotel’s request, not for flood mitigation – Stan Dogbe
52 minutes -
LA 2028: Mukarama returns to Black Queens squad for Olympic Games qualifiers
53 minutes -
Fusaini Yakubu Abanga leads NPP National Youth Organiser race with 45% in Global InfoAnalytics poll
1 hour -
Suame Methodist JHS marks 120 years with a call for STEM innovation
1 hour -
Global fashion coalition launches in the heart of Kantamanto Market
1 hour -
‘No concrete commitments from government’ – Brong Ahafo teacher unions maintain strike
1 hour -
Finance Minister demands greater returns from NLA after GH¢10 million dividend presentation
2 hours