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Kenya requests extension of Sh150bn IMF standby loan - 8 Mar 2018 14:19

Charles Mwaniki

Kenya has requested for a six month extension to the Sh150 billion IMF standby facility that is due to expire next week pending a completion of scheduled reviews of the programme, the Breton Woods institution has said. An IMF review team has been in the country for the past three weeks, conducting the 2018 Article IV consultation and holding discussions on continued IMF support to Kenya with senior officials from the Treasury, Central Bank, MPs, civil society members and the private sector. They also met President Uhuru Kenyatta. The IMF had suspended access to the two year facility last June, after failing to complete a scheduled review, although this fact . “The authorities requested a six-month extension of the month Stand-By Arrangement (SBA) that expires on March 13, 2018 to allow more time to complete the outstanding reviews of the IMF-supported programme,” said the IMF staff team leader Benedict Clements ...
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