💨 Abstract

Kenya has requested a new financial program from the International Monetary Fund (IMF) to help manage its economy, which has been strained by high debt-servicing costs resulting from a decade-long borrowing spree. The IMF has acknowledged the request and will engage with Kenyan authorities. The specific type of program is yet to be determined. The government is scrambling for new financing after abandoning tax hikes due to deadly protests last year.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖