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Kenya: IMF Slaps Tough Terms on Loan Offer
Nation, 22 November 2020
The government is in urgent need of cash for its annual budget support and will therefore have to implement tough conditions imposed by international lending institutions, Treasury… Read more »
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Kenya: Govt in Talks With IMF to Access Emergency Loan
Capital FM, 22 November 2020
Kenya is currently in talks with the International Monetary Fund to access emergency loan for the next three and a half years. Read more »
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Kenya: Broke Kenya Seeks U.S.$690-Million Debt Suspension
Nation, 20 November 2020
The government is broke, and in need of a Sh75.5 billion ($690 million) debt relief. Read more »
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Kenya: How Lenders Laced Covid-19 Loans Relief With Hidden Pain
Nation, 19 October 2020
Banks and regulators across the world offered varied reliefs to borrowers at the onset of the Covid-19 pandemic, but the lenders were generally given a free hand to determine… Read more »
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Kenya: Loans Shocker as Banks Demand Hidden Interest
Nation, 19 October 2020
When the Central Bank of Kenya announced in March that lenders would offer a repayment holiday on personal and business loans distressed by the Covid-19 pandemic, there was… Read more »
IMF Slaps Tough Terms on Kenya Loan Offer
The International Monetary Fund (IMF) has released a statement disclosing that tax, governance and monetary policy reforms, are part of its ongoing debt negotiations with the government. This is stoking fears of a return to painful prescriptions of the past, that resulted in civil servant job losses and increased taxes. The IMF says its stringent conditions would help stabilise the economy. Should Kenya accept the conditions, it could get a loan as early as 2021, the IMF said. "Kenya is seeking a quick-disburse loan from the fund to top up the public purse, which has taken a battering from the Covid-19 pandemic", Treasury Permanent Secretary, Julius Muia has said.
InFocus
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President Uhuru Kenyatta is scheduled to sign a U.S.$1,7 billion deal with a French consortium, that will be used for upgrades to the 190-kilometer Rironi-Nakuru-Mau Summit Road. ... Read more »
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With a worst-case scenario of hundreds of thousands dead and millions infected by the end of the year, the National Treasury reportedly kept its foot firmly on the borrowing gas ... Read more »
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IMF says the six-month extension will allow time to complete the outstanding reviews which were delayed because of a prolonged election period. Completion of the reviews will ... Read more »
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According to the project document on the bank's website, the loan will enable the government to crowd-in private investment and financing for affordable housing, increase farmer ... Read more »
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The new act wants to cap the public debt, and is apparently in line with regional trends. President Uhuru Kenyatta has signed three more trade agreements with China with a view to ... Read more »
