💨 Abstract

Kenya and the International Monetary Fund (IMF) will discuss a new lending program for the East African nation, following an agreement to abandon a ninth review of the current $3.6 billion loan. Kenya requires continued financial support to manage its economy, as debt-servicing costs have increased due to a decade-long borrowing spree. The IMF has received a formal request for a new program from the Kenyan government.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖