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Kenya and IMF agree to start formal talks on new lending programme

Kenya and the International Monetary Fund will discuss a new lending programme for the East African nation, as both sides agreed to abandon a ninth review of the current $3.6 billion loan.
Kenya and the International Monetary Fund (IMF) have agreed to initiate formal discussions for a new lending program, as announced by the IMF on September 1, 2023. This decision follows a preliminary agreement reached in July, aiming to support Kenya's economic reforms and address its financial challenges. The talks will focus on designing a program that could potentially unlock further financial assistance for Kenya, helping to stabilize its economy amidst global economic pressures. The IMF's engagement is part of its broader strategy to assist countries in managing debt and fostering sustainable economic growth.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/kenya-and-imf-agree-to-start-formal-talks-on-new-lending-programme/ar-AA1B3GXW ]