People Daily | by Steve Umidha
The International Monetary Fund (IMF) yesterday reaffirmed its commitment to a $2.34 billion (Sh255 billion) loan to Kenya to address debt vulnerabilities and bolster the next phase of Covid-19 pandemic responses.
The move comes as a petition opposing the loan gathered momentum with more than 200,000 people having signed up. The lender’s approval enables immediate disbursement of about $307.5 million (Sh33.5 billion) to be used for budget support.
“On April 2, 2021, the Executive Board of the International Monetary Fund (IMF) approved 38-month arrangements under the Extended Credit Facility (ECF) and…