Kenya expects an International Monetary Fund (IMF) team to visit Nairobi soon for regular consultations, with discussions also expected to focus on the country’s request for a new IMF-supported programme.
Central Bank of Kenya Governor Kamau Thugge disclosed this on Wednesday, saying the upcoming engagement would provide an opportunity to discuss the country’s future relationship with the international lender.
“We will have further discussions about our relations going forward, and in particular in terms of having a fund-supported programme,” Thugge told a press conference.
Kenya requested a new IMF programme after its previous $3.6 billion arrangement ended in April last year.
Government officials, including Thugge, have previously expressed interest in securing another IMF programme that would include a lending component as the country seeks to strengthen its economic and financial position.
The expected IMF visit comes as Kenya continues to engage with the fund over the structure and terms of potential future support.
The discussions are likely to cover Kenya’s economic performance, policy priorities and the framework for any new programme, although details of a possible lending arrangement have yet to be finalised.
Thugge spoke a day after the Central Bank of Kenya maintained its benchmark lending rate at 8.75 per cent for the third consecutive policy meeting.
The decision to keep the rate unchanged reflects the central bank’s continued assessment of inflation, economic activity and broader financial conditions as policymakers seek to balance price stability with economic growth.
Kenya’s pursuit of a new IMF-supported programme comes as authorities seek to maintain investor confidence and strengthen the country’s economic resilience following the conclusion of its previous financing arrangement.
