Kenya after support restart

PUBLISHED : Thursday, 25 September, 1997, 12:00am
UPDATED : Thursday, 25 September, 1997, 12:00am

Kenya says it expects the IMF to resume an aid programme by the end of the year. The progamme was suspended in July because of its government's failure to curb rampant corruption. A resumption of the US$216 million loan programme could pave the way for Kenya to become one of the few African nations, along with South Africa and Nigeria, to sell international bonds. 'We have now agreed to a possible resumption of the programme by December,' the Kenyan Ministry of Finance's director of monetary and financial affairs, Njeru Kirira, said. 'It's now a question of getting enough action in place' in order to receive the next disbursement. Once the IMF lending programme is back in place, Kenya hopes to sell its first Eurobonds next year. 'We want to sell a Eurobond,' Mr Kirira said. 'We want to lengthen the maturities of our debts.'

 

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