Kenya avoids IMF with zero loans in new budget

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International Monetary Fund (IMF) Managing Director Kristalina Georgieva (left) shakes hands with President William Ruto during a past meeting.

Photo credit: PCS

 Kenya has not included funding from the International Monetary Fund (IMF) in the budget for the year starting July, dodging the painful aid conditions such as higher taxes, job freezes and spending cuts associated with the multilateral lender.

Budget documents tabled in Parliament indicate zero funding from the IMF in the four years to June 2029 compared to Sh50.2 billion set for the 2024/25 financial year and Sh135.1 billion received in the 2023/24 period.

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