Kenya eyes Sh400 billion loans from IMF, World Bank

National Treasury CS Ukur Yatani says the credit facilities will depend on a number of factors including Kenya's ability to manage its fiscal framework. [Wilberforce Okwiri, Standard]

Kenya will add close to Sh400 billion to its total debt stock should it succeed in getting the two credit facilities from the International Monetary Fund (IMF) and the World Bank.

This follows reports that the country is negotiating for a $2.3 billion (Sh250.4 billion) from the IMF to help it respond to the negative economic effects of the Covid-19 pandemic.