Kenya seeks to use IMF reserves to plug budget holes after paying China debt
Kenya's Public Debt Management Office Director General Haron Sirima. Nairobi is considering using reserves from the IMF to compensate for Chinese loans it repaid. FILE PHOTO | NMG
Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.
The National Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.
