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IMF delays $238 Million Loan for Kenya as Board yet to meet

Kenya may need to find alternative sources to finance its current budget due to a delay by the International Monetary Fund in issuing it with a 28 billion shilling loan ($238 million). The funding is part of a $2.34 billion extended credit facility and extended fund facility that was agreed to by the IMF more than year ago for budget support. The loan needs board approval after a staff-level agreement with the lender was reached in April. [...]