Kenya and the IMF have agreed to halt the ninth review of the $3.6B loan program and discuss a new lending arrangement. With rising debt costs and a 65.7% debt-to-GDP ratio, Kenya seeks fresh financial support to stabilize its economy and manage fiscal challenges.
Kenya and the International Monetary Fund (IMF) have agreed to halt the ninth review of the current $3.6 billion loan program, with plans to discuss a new lending arrangement. The decision comes as Kenya faces rising debt-servicing costs due to extensive borrowing over the past decade.
Haimanot Teferra, the IMF mission chief, confirmed that both parties reached an understanding to abandon the ninth review of the current Extended Fund Facility and Extended Credit Facility programs. The Kenyan government has officially requested a new program to help manage the country’s financial challenges.
Kenya’s economy is under pressure as it struggles to balance growing expenditure with escalating debt repayments. Anti-tax hike protests and disputes over new borrowing from the United Arab Emirates have complicated the implementation of the existing program, which is set to expire next month.
With a debt-to-GDP ratio of 65.7% in June, well above the sustainable threshold of 55%, Kenya is exploring new avenues to secure financing, including enhancing revenue collection. The IMF’s continued support is vital for Kenya as it navigates its fiscal challenges and strives to stabilize its economy.
In a sweeping diplomatic push in Baku, Georgia and Azerbaijan have signed a landmark package of energy and transport agreements, cementing a partne...
United Nations World Urban Forum 13 continues in Baku, Azerbaijan on 19 May with sessions and roundtable discussions focused on strengthening dialo...
The first-ever “WUF13 NGO Forum” in the history of the World Urban Forum (WUF) was held on 19 May 2026 at Azerbaijan’s initiative...
Germany will deploy a Patriot air-defence battery to Türkiye in the coming weeks as part of a NATO mission aimed at strengthening the alliance...
Kazakh President Kassym-Jomart Tokayev has called for closer security coordination between Central Asia and China, warning that expanding trade and...
In a sweeping diplomatic push in Baku, Georgia and Azerbaijan have signed a landmark package of energy and transport agreements, cementing a partnership set to shape the South Caucasus corridor for decades to come.
The first-ever “WUF13 NGO Forum” in the history of the World Urban Forum (WUF) was held on 19 May 2026 at Azerbaijan’s initiative in Baku.
Germany will deploy a Patriot air-defence battery to Türkiye in the coming weeks as part of a NATO mission aimed at strengthening the alliance’s south-eastern flank, German officials have said.
Kazakh President Kassym-Jomart Tokayev has called for closer security coordination between Central Asia and China, warning that expanding trade and infrastructure links are exposing the region to increasingly sophisticated cross-border threats.
The World Urban Forum (WUF13) continues in Baku, Azerbaijan on 18 May, addressing the global housing crisis. The day’s agenda includes the official opening press conference, the WUF13 Urban Expo opening and a ministerial dialogue on the Nairobi Declaration to advance Africa's urban agenda.
United Nations World Urban Forum 13 continues in Baku, Azerbaijan on 19 May with sessions and roundtable discussions focused on strengthening dialogue and advancing cooperation in urban development. Organisers say there are nearly 3 billion people globally who face some form of housing inadequacy.
U.S. President Donald Trump said on Monday he had paused a planned attack on Iran after appeals from the leaders of Qatar, Saudi Arabia and the United Arab Emirates, allowing negotiations to continue over a possible deal to end the conflict.
A 5.2 magnitude earthquake struck China’s Guangxi region early on Monday, killing two people and forcing more than 7,000 residents in Liuzhou to evacuate as rescue efforts continued.
The World Health Organization (WHO) has declared an Ebola outbreak in the Democratic Republic of Congo (DRC) and Uganda a Public Health Emergency of International Concern (PHEIC), warning that the situation poses a significant risk of cross-border spread in Central Africa.
Germany will deploy a Patriot air-defence battery to Türkiye in the coming weeks as part of a NATO mission aimed at strengthening the alliance’s south-eastern flank, German officials have said.
Estonia said on Tuesday (19 May) that a NATO fighter jet shot down a suspected Ukrainian drone over its territory, in the latest reported airspace violation in the region amid ongoing Ukrainian strikes against Russia.
Sweden has agreed to buy four naval frigates from France’s Naval Group in a deal worth more than $4 billion, as Stockholm moves to strengthen its defence capabilities in the Baltic Sea, Prime Minister Ulf Kristersson said on Tuesday.
Spanish police said on Tuesday they had detained a 25-year-old man suspected of killing his two parents and injuring four other people, including his son, in a shooting in the southern city of El Ejido in Almeria province overnight.
European Union negotiators are expected to agree on Tuesday (19 May) on legislation removing import duties on U.S. industrial goods, in a move aimed at implementing last year’s trade agreement with the United States and avoiding higher tariffs threatened by U.S. President Donald Trump.
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