No Kenya-IMF talks on new program yet

The Kenyan government has yet to initiate discussions on a lending agreement with the International Monetary Fund, three months after the expiry of the last program. A new initiative with the IMF is thought to be key to restoring the international community’s confidence in the African state, as well as to provide it with immediate reconstruction funding. The previous program, which ended in December 2007, provided a total of USD227 million to Kenya over four years. Nairobi is likely to ask for a bigger sum for its new arrangement with the IMF, especially to address rehabilitation needs in the country. (Source: State yet to approach IMF over funding/Business Daily Africa)