Moody’s says IMF loan will ‘shield’ Kenya

The Sh153bn stand-by loan from the International Monetary Fund (IMF) has significantly boosted Kenya’s defence against external shocks, analysts at ratings firm Moody’s Investors Service said Monday.

While noting that the opinion was not a rating upgrade, Moody’s said the precautionary loan will provide an important buffer while the accompanying IMF programme will boost Kenya’s commitment to narrowing its large fiscal and current account deficits over the coming years.