The International Monetary Fund (IMF) is set to survey the impact of corruption on public finances in the country over the next two weeks in a bid to pave the way for a new financial support agreement.
According to reports from Bloomberg, the team from the IMF will scrutinise the effectiveness of Kenya's anti-corruption legal and institutional framework, in addition to examining graft risks in fiscal and central bank governance, the rule of law, and market regulations.
According to an IMF spokesperson, the 14-day study will be foundational in enabling the government to reinforce its anti-corruption capacity before it enters into a new funding agreement with the lender.
The planned engagement with the IMF reflects Kenya’s search for new financing in a bid to stabilise to stimulate economic growth, a factor that has recurrently triggered protests in the country.
"The review is part of the IMF’s commitment to helping strengthen governance and anti-corruption frameworks,” an IMF spokesperson told the publication.
According to Bloomberg, the team will then relay the findings of their study to the Kenyan government and publish thereafter after a green light from the state.
In March 2025, Kenya decided not to proceed with the 9th review, foregoing an estimated $800 million disbursement, to open talks for a new funding arrangement.
The IMF’s Executive Board completed the 7th and 8th reviews of Kenya’s $3.6 bn Extended Fund Facility (EFF) and Extended Credit Facility (ECF), along with a Resilience & Sustainability Facility (RSF), unlocking around $606 million in new funding.
In May 2025, an IMF staff-level agreement was reached for a Resilience and Sustainability Facility (RSF) loan worth Ksh75.3 billion. This funding is conditional on climate and green reforms and is expected to be disbursed in early November.
Speaking on Wednesday, June 11, the CBK Governor Kamau Thugge confirmed that the country had penned a letter to the IMF requesting to negotiate a new arrangement.
“We are indeed having discussions with the IMF, and the government did send a letter to the IMF requesting to negotiate a new arrangement. We are expecting an IMF team to come in September to start discussions on the Article IV consultation,” the Governor said.
According to Thugge, the team conducts an in-depth assessment of the country's economic and financial policies and a debt sustainability analysis.
