Economic news
IMF approves $235.6 million disbursement to Kenya on loan review
2022.07.19 03:06
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/File Photo
WASHINGTON (Reuters) – The International Monetary Fund said its executive board approved a $235.6 million disbursement to Kenya on Monday as it approved a third review of the country’s Extended Credit Facility and Extended Fund Facility arrangements.
The disbursement is usable for budget support and brings such payouts to $1.208 billion under the 38-month arrangements, which were worth $2.34 billion when they were approved in April 2021, the IMF said.
