The International Monetary Fund (IMF) has confirmed its talks with Kenya to renew a 165 billion shilling (about 1.5 billion U.S. dollars) standby loan facility.
Gerry Rice, IMF director of the communications department, said the lender’s mission, which was in Kenya in late 2020, reached an agreement in many areas on implementation of the fiscal plan.
« We are in discussions with the Kenyan authorities on the possibility of a program to support the next phase of their response to the crisis, » Rice said in a statement issued on Thursday evening.
« We had a mission there toward the end of last year, and reached an agreement in many areas so that technical work is continuing, » he said. « We hope that will lead to something being presented to our board for consideration in early 2021. »
