Kenya braces for IMF talks amid debt crisis

IMF Deputy MD Nigel Clarke (right) is in the country for talks that start today. Sources say that IMF officials are poised to impose stringent conditions on any new programme. [Courtesy]

The Ruto government is bracing for pivotal discussions with the International Monetary Fund (IMF) as the country seeks to secure the renewal of its multi-billion-shilling lending programme, set to expire in just four months.

On April 2, 2021, the IMF Executive Board approved a 38-month arrangement under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for Kenya, amounting to about $2.34 billion (Sh303 billion).