Kenya Gets $938 Million More From IMF With Eurobond Coming Due
- Kenya to gain immediate access of $682 million under package
- Plan lifts total support to $4.4 billion, needs board approval
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The International Monetary Fund will expand its financing to Kenya by $938 million to bolster the East African nation’s reserves before a Eurobond repayment due in June.
The funding, which still requires IMF board approval, would result in the Washington-based lender granting Kenya immediate access to around $682 million, the fund said in a statement Thursday.