The International Monetary Fund announced on Monday that it had reached an agreement after the first review of the aid program granted to Kenya in April 2021 which is expected to result in a disbursement of $ 410 million to the country.
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The disbursement must first be submitted for approval to the Board of Directors which will meet in the coming weeks, the institution said in a press release.
On April 2, 2021, the IMF approved a 38-month assistance program amounting to $ 2.34 billion under the Extended Credit Facility (ECF) and the Extended Credit Facility. financing (FEP).
The immediate disbursement amount was approximately $ 307.5 million for budget support.
Fight against corruption
"The economic recovery has started and the third wave of Covid-19 is losing speed in Kenya, which suggests that activity should continue to recover"
, comments the IMF, which however notes the "uncertainty" on the results to come up. The IMF also welcomes the authorities' efforts to increase transparency and the fight against corruption.