Kenya to wait until New Year for IMF bailout decision as talks stall

CBK Governor Dr Kamau Thugge during the launch of the Chora Plan financial literacy campaign. [Wilberforce Okwiri, Standard]

Kenya will wait until at least early next year to learn the fate of a new International Monetary Fund (IMF) bailout, after critical negotiations stalled over currency manipulation concerns and the classification of billions in securitised loans.

Central Bank of Kenya (CBK) Governor Kamau Thugge said on Wednesday the new timeline was announced following a recent meeting between President William Ruto and IMF Managing Director Kristalina Georgieva in Washington, DC, which both sides described as focused on deepening collaboration.