MF approves Kenya's request to extend stand-by agreement by 6 months

Treasury CS Henry Rotich (PHOTO: FILE)

NAIROBI, KENYA: IMF approves a request by Kenya to extend by six months a stand-by agreement that was due to expire at the end of March, giving it time to finish mandatory reviews, the IMF said in a statement.

The stand-by agreement, which was approved in March 2016, was for $989.8 million, alongside a stand-by credit facility of about $494.9 million.