The board of the International Monetary Fund has announced the immediate disbursement of a further $407 mn to Kenya after the first reviews of two agreements were approved in April. These include two new 38-month financing arrangements for Kenya valued at $2.34bn. “The Kenyan authorities continue to demonstrate strong commitment to their fiscal reform agenda during this unprecedented global shock,” said Antoinette Sayeh, deputy managing director of the IMF.

Kenya 8.25% Perps were higher by 0.13 points to 110.958, yielding 7.31%.

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