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Kenya discussing a new standby credit facility with IMF

IMF
Treasury Cabinet Secretary Henry Rotich. [Photo:File]

NAIROBI, KENYA: Kenya is discussing a new standby credit facility with the International Monetary Fund after the expiry of a previous programme last year, the institution’s representative to Nairobi said on Tuesday.

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

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