Kenya is set to receive Sh80 billion (USD750 million) from World Bank and Sh43.8 billion (USD410 million) from International Monetary Fund (IMF) by end of June as it eyes debt repayment extension from its external lenders. The Central Bank of Kenya (CBK) on Thursday said Kenya is keen on debt repayment extension from its external lenders to help stabilise the economy from the effects of the Covid-19 pandemic. “Yes, Kenya is keen on any debt repayment extension, such arrangement will free up resources to be channeled to other purposes in the direction of helping the economy recover,” he said. The Debt Service Suspension Initiative (DSSI) is helping poor countries concentrate their resources on fighting the pandemic and safeguarding the lives and livelihoods of millions of the most vulnerable people. In March this year, African governments rooted for the extension of the Debt Service Suspension Initiative (DSSI) until at least the end of 2021.

Source: Standard Digital May 27, 2021 12:22 UTC