Kenya is Now Africa’s Second-Largest Debtor to the IMF

Kenya is the second-largest debtor to the International Monetary Fund (IMF) in Africa, with outstanding credit reaching $3.02 billion as of June 26, 2025.

The East African nation trails only Egypt ($7.5 billion) in IMF credit exposure, according to the Fund’s latest data.

This development underscores Kenya’s ongoing reliance on multilateral financial support to stabilize its macroeconomic environment, manage external debt obligations, and navigate a challenging fiscal landscape.

The IMF-supported program, which began in April 2021, was launched under a blended Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangement.

By October 2024, Kenya had unlocked approximately $606 million through the seventh and eighth IMF reviews.

By Harry Njuguna

Full story at Kenya Wall Street