Kenya Seeks Another Covid-19 Loan From IMF

Kenya has yet again reached out to International Monetary Fund (IMF) to help fight the coronavirus pandemic.

IMF resident representative Tobias Rasmussen said the government had asked the for another loan following the $739 million (Sh79.3) billion received in May that Kenya sought to help it respond to the economic shocks caused by the global pandemic.

“Following up on the support provided by the IMF in May under our Rapid Credit Facility (RCF), the Kenyan authorities have expressed interest in a Fund arrangement. IMF staff is in discussions with the authorities toward such an arrangement,” Mr Rasmussen told one of the local dailies.

This comes amid a surge in Covid-19 cases in the country, with more than 100 deaths reported in the last one week and total recorded cases in the country at 56, 601 as at Monday November 2.

This will be the second time in less that six months that Kenya has approached IMF for budget support during the Corona virus pandemic.