On 2 April 2021 the Board of the International Monetary Fund approved a US$2.34 billion programme for Kenya under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF).
The programme was designed to support Kenya's recovery from the COVID-19 shock and to reduce debt vulnerabilities through multi-year fiscal consolidation: raising revenue while controlling expenditure, with safeguards for vulnerable groups and reforms to address weaknesses in State-Owned Enterprises. In July 2023 it was extended to include a 20-month Resilience and Sustainability Facility (RSF) arrangement.
Programme documents
- Seventh and eighth reviews under the EFF/ECF and review under the RSF: press release, staff report and Executive Director's statement (opens in a new tab) (Nov 2024)
- IMF staff press release: agreement on the seventh review and second RSF review (opens in a new tab) (Jun 2024)
- 2023 Article IV consultation and sixth reviews (opens in a new tab) (Jan 2024)
- Fifth reviews under the EFF/ECF (opens in a new tab) (Jul 2023)
- Fourth review report (opens in a new tab) (2022)
- IMF staff press release after the third review (opens in a new tab) (Apr 2022)
- First review report of the EFF/ECF programme (opens in a new tab) (Jun 2021)
- Board approval press release (opens in a new tab) (Apr 2021)
- Programme document: request for EFF and ECF arrangements (opens in a new tab) (Apr 2021)
Treasury press statements on the programme are in Press Releases & Updates. For Kenya's current status with the Fund, see the IMF Kenya country page (opens in a new tab).