Sharp Daily
No Result
View All Result
Wednesday, October 8, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya Requests For More IMF Loans

Cynthia Mungai by Cynthia Mungai
October 25, 2022
in News
Reading Time: 2 mins read
International Monetary Fund

International Monetary Fund [Photo/Courtesy]

As external commercial finance remains out of reach, Kenya is attempting to acquire extra resources in the form of loans from the International Monetary Fund (IMF).

Patrick Njoroge, the governor of the Central Bank of Kenya (CBK), believes that the multilateral lender should intensify its assistance for developing and frontier economies to help close funding gaps brought on by recent global shocks.

“We didn’t get all the external resources from the markets that we were supposed to. We would need new inflows that could immediately aid us. A doubling or tripling of access is something that should be put on the table,” Njoroge stated during a discussion at the IMF Annual Meetings in Washington, DC, on Thursday last week,

According to Dr Njoroge, Kenya has submitted the plan to the IMF but has expressed dissatisfaction with how quickly it is being reviewed.

RELATEDPOSTS

International Monetary Fund

How Kenya’s move away from IMF Loans could reshape its economic future

May 26, 2025

Real yields vs. nominal yields on Kenya’s government bonds

May 21, 2025

Kenya Set To Benefit From IMF Funding To Curb Food Crisis

Kenya has been unable to secure external financing from commercial sources, including issuing sovereign bonds (Eurobonds) and syndicated loans at higher interest rates, including big swings in yields on issued Kenyan sovereign bonds.

“Financial markets have become dysfunctional. We have been shut from the capital markets as we are unable to borrow at appropriate rates,” he added.

Kenya missed out on the chance to issue a Eurobond and a syndicated loan in the fiscal year that concluded on June 30, 2022, which left a gap in the financing of its 2021–2022-budget.

Kenya is currently a part of a 38-month IMF programme that would see it get Ksh283.5 billion ($2.34 billion) in total by mid-2024.

Midway through July, the IMF concluded its third evaluation of the programme; Ksh146.4 billion ($1.208 billion) had been spent on budget support.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Africa’s First Female Dreamliner Captain Koki Mutungi Inducted Into Aviators Hall Of Fame

Next Post

Kenya Podcasters Set To Benefit From Spotify’s Million Investment

Cynthia Mungai

Cynthia Mungai

Related Posts

News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025

LATEST STORIES

Equities, Bonds, or Fixed Deposits?

October 7, 2025

Kenya’s Inflation is creeping up, What it means for investors

October 7, 2025

The Role of Micro-Pensions Plans in Kenya

October 3, 2025

Understanding the link between international aid and cooperative finance stability in Sub-Saharan Africa

October 3, 2025

Kenya Pipeline Company IPO

October 3, 2025

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025

Post-September review: What CMMF did and what’s next

September 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024