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June 29, 2022


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Kenya gets US$685M from IMF ahead of eurobond maturity

Decision confirms IMF staff recommendation in November Yields on Kenya’s 2024 eurobond fall after deal confirmed

The International Monetary Fund agreed to immediately disburse $684.7 million to Kenya, boosting the country’s foreign-exchange reserves before a critical eurobond repayment due in June.

The money includes $624.5 million from an expanded program agreed with the Washington-based lender last year and $60.2 million from its so-called Resilience and Sustainability Facility, the IMF said in a statement Wednesday following an executive board meeting.

Source: Bloomberg