A team from the International Monetary Fund (IMF) is in Kenya to hold talks on a new loan programme, according to both the government and the Fund.
Kenya is seeking a new lending arrangement following the expiration of its previous $3.6 billion programme in April, Reuters reported.
Since then, officials from both sides have held several discussions in Nairobi and Washington.
In a Eurobond prospectus made public late Tuesday as part of a $2.25 billion issuance last week, the government said, “An IMF team is scheduled to visit Kenya from 24 February to 4 March 2026 to continue discussions on a successor arrangement aimed at supporting key policy reforms and potentially providing financial assistance.”
The prospectus added that the talks are intended to ensure any new programme aligns with Kenya’s “fiscal and economic priorities” while supporting macroeconomic stability.
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The Washington-based lender confirmed that the staff mission had begun.
“We continue to engage in close and constructive dialogue with the Kenyan authorities, including on their request for a new IMF-supported program,” an IMF spokesperson told Reuters.
Earlier this month, Finance Minister John Mbadi said Nairobi had formally requested a new programme. He noted that the government has not included IMF funding in its budget plans for the current fiscal year or the next one beginning in July.
However, Kenya is eager to reach an agreement with the IMF to strengthen investor confidence.
As the country faces high debt-servicing costs, the government has turned to securitising certain revenue streams to finance development projects. This approach initially limited its ability to secure a new IMF agreement.
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Image Credit: Polity
