IMF’s visit to Kenya covered reforms that might result in a new program

The International Monetary Fund announced Friday that a staff visit to Kenya examined reforms that would open the door for a new program and assessed the most recent macroeconomic trends.

In a statement, the IMF listed “measures to enhance fiscal policy credibility, ensure sustainability of public finances and debt, and minimize fiscal, financial, and external sector risks” as one of its top policy goals.

During the next IMF Annual Meetings, it said, talks with Kenyan officials would continue.

The IMF’s $3.6 billion program with the East African country ended earlier this year, and some authorities have indicated interest in obtaining a new one with a financing component.

Kenya needs a fresh loan agreement from the Washington-based Fund to support its repayment of external debt, according to some financial analysts.