IMF says staff, Kenya reach agreement on loan review, $244 million disbursement

WASHINGTON – The International Monetary Fund said on Monday that its staff reached an agreement with Kenyan authorities on policies to complete the third review of Kenya’s loan program, clearing the way for a $244 million disbursement upon Executive Board approval.

The Fund said in a statement that the payment would bring total disbursements to about $1.18 billion under Kenya’s three-year, $2.34 billion Extended Fund Facility and Extended Credit Facility arrangements approved in April 2021.

(Reporting by David Lawder and Andrea Shalal; editing by Jonathan Oatis)