Kenya and the International Monetary Fund will discuss a new lending programme for the East African nation, as both sides agreed to abandon a ninth review of the current $3.6 billion loan.

Kenya requested a new funding program from the International Monetary Fund after agreeing not to proceed with a final review of an existing facility that would have unlocked $800 million.

Kenya and the IMF are discussing a new lending program after halting the current $3.6 billion loan review. The country needs continued support amidst high debt-servicing costs. A formal request for a new program has been made,

NAIROBI - Kenya and the International Monetary Fund will discuss a new lending programme and abandon the current one, as the country struggles to get its economy back on track after a borrowing spree led to a surge in debt-servicing costs.