Kenya will seek another loan from the International Monetary Fund (IMF), despite assurances by Treasury Cabinet Secretary John Mbadi to cut down on external borrowing.
Central Bank of Kenya Governor Kamau Thugge revealed on Wednesday, August 13, that the country would seek a funded programme ahead of a planned visit by the IMF next month to discuss a new programme.
Speaking during the post-Monetary Policy Committee meeting, Thugge informed that despite the government's preference to primarily rely on domestic borrowing, more funds would be sought from the IMF to facilitate external debt repayments. "Our preference will be to have a funded programme, and that is what we have expressed to the IMF board," Governor Kamau Thugge disclosed during the press conference.
The International Monetary Fund (IMF) offices in Washington, US.
