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    HomeTop StoriesIMF entices Ruto's administration to take loan.

    IMF entices Ruto’s administration to take loan.

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    If Kenya’s current government of President William Ruto needs a credit facility, the International Monetary Fund (IMF) has indicated that it is prepared to provide such assistance.

    On October 14, the head of the IMF’s African division, Abebe Selassie, spoke to the media to clarify the organization’s goals. He said that the IMF wanted to assist countries that were having trouble securing finance from other financial organizations.

    We have revolving resources that we must employ to assist nations ranging from stronger to weaker. When access to credit abroad is difficult, supplying money is the biggest aid we can provide nations like Kenya. If more funding is required, we will, of course, consider it.

    According to the official.

    When asked whether the IMF would erase Kenya’s debt, the international lender said that Ruto had not yet requested an adjustment in Kenya’s existing debt.

    But the IMF said it will keep helping Kenya with economic reforms.

    During the presidency of Uhuru Kenyatta, IMF was a major source of financing for the Kenyan government. But it was met with resistance from the general public, who claimed that it was causing the government to take on too many debts.

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