Kenya to receive an additional 28Billion Loan from IMF.
Employees of the International Monetary Fund (IMF) and the Kenyan authorities have reached an agreement on the level of workers to provide a 28 billion shilling loan to Kenya.
The country would now receive approximately 28 billion shillings in funding when the review is officially completed by the IMF Executive Board.
The IMF said Kenya was on track to “put debt as a percentage of GDP on the downward spiral”.
“The economic crisis continues, although the global shock poses a new challenge to rising global energy, fertilizer and food prices, which will put pressure on inflation and create new consumer demand,” the IMF said in a statement.