Kenya sees stronger than expected US$938mn boost to IMF programme
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Kenya secures IMF staff-level agreement for $938m funding augmentation, more than cUS$650m initially expected
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IMF cites improved current account but maintains call for fiscal discipline amid elevated global risks
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Augmentation increases likelihood that Kenya can retire its US$2bn June 2024 bond; retain Hold
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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