IMF and Kenya reach preliminary agreement for $1.1bn funding, subject to IMF board approval.

The International Monetary Fund (IMF) and Kenya have reached a preliminary agreement, subject to IMF board approval, to unlock $1.1 billion in funding for Kenya. This includes access to about $976 million under an Extended Fund Facility arrangement and an additional $120 million under a Resilience and Sustainability Facility. The policy package aims to address issues such as debt sustainability, price stability, fiscal risks, and financial sector vulnerabilities while continuing structural reforms.