NAIROBI,Kenya — An International Monetary Fund (IMF) staff team is set to arrive in Nairobi tomorrow for discussions with the Kenyan government on a potential IMF-supported program.
The mission, led by Haimanot Teferra, IMF mission chief for Kenya, will run from September 25 to October 9.
“At the request of the Kenyan authorities, an IMF staff team will begin initial discussions in the coming days on a possible Fund-supported program,” Teferra said in a statement from Washington, DC.
“The IMF remains committed to supporting Kenya in its efforts to maintain macroeconomic stability, safeguard debt sustainability, strengthen governance, and promote inclusive and sustainable growth for the benefit of the Kenyan people.”
The visit comes at a time when Kenya faces rising debt obligations, persistent inflationary pressures, and limited fiscal space, forcing the government to seek avenues for financial and policy support.
Kenya has been under IMF programs since 2021, when the Fund approved a $2.34 billion arrangement under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) to help the country address its debt vulnerabilities and support post-pandemic recovery.
The arrangement was later augmented to $2.9 billion in 2023 to bolster external resilience amid global economic shocks, including high energy and food prices.
The programs have focused on fiscal consolidation, revenue mobilization, governance reforms, and strengthening the Central Bank’s role in maintaining price stability.
However, the measures have also triggered mixed reactions at home, with critics pointing to painful tax increases and reduced subsidies as ordinary Kenyans grapple with a high cost of living.
During the two-week mission, the IMF team is expected to engage with senior government officials, the Central Bank of Kenya, and other stakeholders to assess the country’s economic outlook and policy priorities.
The discussions will lay the groundwork for a framework that could shape Kenya’s fiscal and monetary policies in the coming years.
The outcome of the talks will be closely watched by investors, policymakers, and the public alike, as Kenya seeks to balance urgent financing needs with long-term economic sustainability.
