IMF visit to Kenya not expected to yield lending deal - CS Mbadi
Treasury CS John Mbadi speaks during a past address. PHOTO | COURTESY
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The team from the Fund's headquarters in Washington arrived in Kenya last week and is expected to conclude the visit later this week.
Kenya's government has formally requested a new support programme after its previous $3.6 billion deal ended last April, but officials say they have not currently factored IMF funding into this year's budget.
Asked by Reuters if a new deal with the IMF had been reached, finance minister John Mbadi said: "No, it's very far from it".
He was speaking at an event to announce results of an initial public offering in Kenya's state pipeline firm.
"IMF was not coming for any deal. They are coming for engagement," he said, describing the talks as technical.
The government, which raised $2.25 billion through new Eurobonds last month, has been turning to securitisation of some revenue streams to fund development projects, a move that initially curbed its ability to strike a deal with the IMF.
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