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Central Bank of Kenya: Country in no rush over new IMF standby facility

Central Bank of Kenya Governor Patrick Njoroge

Kenya is in no rush to secure a new standby credit facility with the International Monetary Fund as its economy continues to show strength, central bank governor Patrick Njoroge said on Thursday.

The previous $989.8 million arrangement expired in September after the government failed to meet the IMF’s conditions for an extension, including the repeal of a cap on commercial lending.

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