The government and the Fund said a team from the International Monetary Fund is in Kenya to discuss a new loan programme.
Since the earlier lending programme of $3.6 billion ran out in April, the East African country has been trying to strike a new lending programme, and since then, both parties have had a series of negotiations in Nairobi and Washington.
The government announced in an Eurobond prospectus published publicly on Tuesday that “an IMF team will visit Kenya between 24 February and 4 March 2026 to further discuss a successor arrangement, which may involve financial assistance.”
The negotiations are to ensure that any new programme will meet the Kenyan fiscal and economic priorities in line with promoting macroeconomic stability, the government indicated in the prospectus, one of a 2.25 billion issuance last week.
The Washington-based lender stated that the mission of the staff had begun.
An IMF spokesperson said, “we maintain a close and positive consultation with the Kenyan authorities, including in their request for a new IMF-supported program.”
Finance minister John Mbadi said earlier this month that Nairobi had officially requested a new programme. The government has not included IMF financing in the current fiscal year and the one beginning in July, but it is eager to make a deal with the IMF to increase investor confidence, Mbadi said.
With high debt servicing, the government has resorted to securitisation of part of its revenue streams to finance the development projects, a move that at the outset suppressed its capacity to make a deal with the IMF.
