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Tighten your belts, IMF warns after new Sh150b loan to Kenya

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Kenya will receive an immediate disbursement of Sh99.8 billion as part of the loan arrangement. [iStockphoto]

Hard-pressed Kenyans should tighten their belts further after the International Monetary Fund (IMF) predicted the cost of living is expected to remain elevated for the next six months.

The IMF made the gloomy prediction after it approved a $941 million (Sh150 billion) loan to Kenya, with an immediate disbursement of $624.5 million (Sh99.8 billion).

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