Kenya now owes $3.02B to the IMF, ranking second in Africa and sixth globally, amid stalled disbursements and reform delays.
Kenya’s outstanding debt to the International Monetary Fund (IMF) has reached $3.02 billion, making it the second-largest IMF debtor in Africa after Egypt ($7.5 billion) and sixth globally. The country’s reliance on IMF support stems from efforts to stabilize its economy, manage external debt, and navigate fiscal pressures.
Under an IMF program launched in 2021, Kenya had secured $606 million by October 2024. However, disbursements were halted in 2025 following mass protests against IMF-backed tax reforms, leading to the withdrawal of the Finance Bill 2024 and Kenya’s decision to skip the final program review.
Despite this, Kenya has applied for a new IMF-supported arrangement, with staff currently conducting assessments that may unlock additional concessional funding.
Regionally, Kenya’s IMF debt surpasses Angola ($2.75B), Côte d’Ivoire ($2.55B), and Ghana ($2.45B). Globally, it trails Argentina, Ukraine, Pakistan, and Ecuador.
The proposed new deal is expected to include fiscal deficit targets, tax reforms, and governance benchmarks—crucial for Kenya’s 2025/26 budget and long-term economic outlook.
Posted inAfrica Economy Press Release
Kenya Becomes Africa’s Second-Highest IMF Debtor with $3.02 Billion Outstanding
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