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Kenya expects to finalise a deal with the International Monetary Fund within two months and the lender is not insisting on a removal of the interest rate cap as a precondition for a new deal, finance minister Henry Rotich said on Thursday.
The east African country is discussing a new standby credit facility with the IMF. Its previous Sh151.7 billion (USD1.5 billion) programme expired last year when the government failed to meet the Fund’s conditions for an extension, including the repeal of a cap on how much interest commercial lenders can charge.
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