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
-
Meko Bono 2026: Vice President pledges agricultural revival as Atebubu hosts grand homecoming
11 minutes -
Russian skydiver Sergey Boytcov sets world record with 11,551-metre stratosphere jump
14 minutes -
Ablakwa-led committee submits five reports to Mahama ahead of 2027 AU chairmanship
20 minutes -
Africa not seeking Western cash in reparations campaign – Ablakwa
36 minutes -
Production decline, reserve depletion threaten Ghana’s upstream sector – Jinapor
41 minutes -
Surveyors caution against treating compensation disputes as professional misconduct
43 minutes -
Mahama calls for AU dialogue on migration after South Africa xenophobic tensions
49 minutes -
I haven’t experienced any envy in the gospel music industry — Ohemaa Mercy
2 hours -
Prayer does not solve everything — Ohemaa Mercy
2 hours -
New PURC office symbolises stronger consumer protection – Dr Jinapor
3 hours -
Rev. Wengam re-elected Assemblies of God, Ghana General SuperintendentÂ
3 hours -
Less than 20km of clearing left to connect Accra-Kumasi Expressway to Kumasi – Agbodza
3 hours -
US judge strikes down policy suspending immigrant visa processing for 75 nations
3 hours -
MCEs collecting fees from galamseyers are facilitating illegality – Ken Ashigbey
3 hours -
Developer LMI Holdings commits to completing first 700 Saglemi housing units
4 hours