Talks between Kenya and the International Monetary Fund (IMF) for a new lending program are at a stalemate, the country’s finance minister said Monday.<\/p>\n
John Mbadi told a news briefing that the disagreement was over the classification of debt.<\/p>\n
According to Mbadi, the international lender wants securitized loans to fund infrastructure projects classified as sovereign debt. Nairobi objects.<\/p>\n
Mbadi said that further talks will be held to reach an agreement without specifying when.<\/p>\n
Nairobi has sought a new bailout from the IMF after the expiration of the previous $3.6 billion deal in April.<\/p>\n
Kenya hopes to raise $1.3 billion from a bond issuance later this month.<\/p>\n
In October, the country managed to reprofile its $5bn loan acquired from China to build a modern railway to Yuan, there by saving the Treasury millions in interest payments.<\/p>\n
Of Kenya\u2019s $40.5 billion in external debt at the end of March, it owed $14.4 billion to the World Bank, $7.52 billion to eurobond investors and almost $5.04 billion to China, according to Treasury data.<\/p>\n
Talks between Kenya and the International Monetary Fund (IMF) for a new lending program are at a stalemate, the country’s finance minister said Monday. John Mbadi told a news briefing that the disagreement was over the classification of debt. According to Mbadi, the international lender wants securitized loans to fund infrastructure projects classified as sovereign […]<\/p>\n","protected":false},"author":1,"featured_media":9190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[1163,3254,111],"class_list":["post-18497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-international-monetary-fund-imf","tag-john-mbadi","tag-kenya"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=18497"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9190"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=18497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=18497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=18497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}