IMF approves $258 million disbursement to Kenya

The International Monetary Fund said its Executive Board approved the disbursement of $258 million to Kenya.

The IMF said the board’s decision on the disbursement would bring total IMF financial support under Kenya’s Extended Fund Facility and Extended Credit Facility programs to $973 million.

“Kenya showed remarkable resilience to the COVID shock in 2020 and is staging an economic recovery.

Growth is now estimated to accelerate to 5.

9 percent in 2021,” the IMF said.

It said Kenya’s COVID-19 vaccination programme has accelerated, “though uncertainty and pandemic-related pressures will persist until vaccinations become widely available.

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Kenyan authorities show strong commitment to their reform agenda in a challenging environment and have maintained careful control of government spending to limit the deficit, the IMF said.

 
Reuters
IMF approves $258 million disbursement to Kenya