Kenya seeks IMF aid to repay China loans

CBK-sirima

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

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