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IMF extends Kenya's existing Sh69b credit facility to March

IMF Country Representative Armando Morales. [PHOTO:FILE/STANDARD]

NAIROBI: Kenya’s Sh69.4 billion ($680 million) standby credit with the International Monetary Fund (IMF) has been extended to March as both sides work on a new facility with similar features, the IMF’s resident representative said.

The Government secured the year-long, insurance-type loan in February last year to help it deal with any unforeseen shocks that could threaten economic stability.

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