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Treasury seeks Sh45bn standby loan from IMF
Treasury has requested Sh45 billion from IMF to cushion the economy in event of external shocks. PHOTO | FILE
National Treasury has requested the International Monetary Fund (IMF) for a precautionary financial facility amounting to Sh45 billion ($488.25 million).
The facility can only be activated or drawn when a major depreciation of the Kenya shilling occurs or is set to occur. This is unlike the routine financial arrangement where money was transferred to the Central Bank of Kenya (CBK) accounts as balance of payment support.
