The International Monetary Fund (IMF) announced on Thursday that it had reached an agreement on a $938 million (€864 million) loan for Kenya, an East African country facing liquidity problems and economic difficulties. Kenya is under pressure "on its liquid assets, mainly due to the large Eurobond maturing" in June 2024 in the amount of $2 billion, according to the IMF, which notes, however, a recovery in the agriculture and tourism sectors. William Ruto announced that the country would repay a first tranche of $300 million in December. If approved, Kenya will have immediate access to $682 million, according to the financial institution. The cost of servicing the country's public debt, mainly to China, has risen sharply with the collapse of the currency.
