Kenya has reached a staff-level agreement with the International Monetary Fund to access an additional Sh25.51 billion ($209.49 million), following a top-up in the latest review to battle biting drought and cushion the country from foreign funding shocks for essential imports like petroleum products under the current budgetary support programme.
The additional cash is nearly half of the Sh52.73 billion ($433 million) that the IMF will wire in the coming weeks subject to the board’s approval under a 38-month funding programme agreed upon in April 2021.
