NAIROBI, Dec 10 (Reuters) – Kenya’s central bank governor said on Wednesday that International Monetary Fund staff were expected visit the country in January to continue discussions with Kenyan authorities over a new support programme.
“We continue to have discussions with the IMF on getting … a new funded programme.
We do expect a staff visit from the IMF sometime in January, to continue the discussions,” Governor Kamau Thugge told a press conference.
The East African nation’s $3.6 billion programme with the IMF expired in April and officials, including Thugge, have expressed interest in getting a new one that will include a lending component.
But negotiations have been delayed by a disagreement on how to classify securitised loans.
On Tuesday the central bank reduced its benchmark lending rate by 25 basis points to 9.0%, its ninth rate cut in a row as it tries to stimulate bank lending and support economic growth.
(Reporting by George Obulutsa and Vincent Mumo Nzilani;Editing by Alexander Winning)
