No, not now! Why IMF is hesitant to commit other billions to Ruto's regime

President William Ruto chats with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), at the "New Global Financing Compact" summit in Paris on 22 June 2023. [PCS]

Kenya and the International Monetary Fund (IMF) are locked in a standoff over a new financing programme, with the Fund reluctant to sign a deal months before a General Election.

Kenya submitted its request for a new programme to the IMF in March last year after abandoning the previous Extended Credit Facility signed in April 2021, when it failed to meet key conditions. Discussions have progressed only through preliminary talks.