The International Monetary Fund (IMF) said it has approved a $2.34 billion aid package to Kenya to “address the urgent need to reduce debt vulnerabilities.” The IMF said the funds would be spread over 38 months, with an immediate disbursement of about $307.5 million, “usable for budget support.” “Kenya was hit hard at the onset by the Covid-19 pandemic,” the International Monetary Fund said, highlighting the country’s “forceful policy response” that led to an economic recovery in 2021 after a slight contraction in GDP in 2020. But the crisis…
Read MoreCOVID-19: How Kenya Secured $2.3bn Grant For Economy Restructuring – IMF
