Kenya pulls plug on Sh301b IMF deal amid hunt for new bailout

President William Ruto and International Monetary Fund Deputy Managing Director Nigel Andrew Lincoln at State House, Nairobi, on December 9, 2024. [File, Standard]

The Kenya Kwanza administration has abruptly terminated its existing Sh301 billion International Monetary Fund (IMF) programme, a move that offers temporary relief from immediate tax increases but raises concerns about the country’s fiscal discipline.  

This decision coincides with...