March 14, 2018 / 2:20 AM / 5 months ago

IMF approves Kenya's request to extend stand-by agreement by 6 months

NAIROBI, March 14 (Reuters) - The International Monetary Fund has approved a request by Kenya to extend its stand-by agreement, that was due to expire at the end of March, by six months to give it time to finish reviews, IMF said in a statement.

The stand-by agreement, which was approved in March 2016, was for about $989.8 million, alongside a stand-by credit facility of about $494.9 million.

“On March 12, 2018, the Executive Board of the International Monetary Fund approved Kenyan authorities’ request for a six-month extension of the country’s Stand-By Arrangement to allow additional time to complete the outstanding reviews,” it said in a statement late on Tuesday. (Reporting by George Obulutsa; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below