This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Kenya’s IMF Program Likely to Get Delayed Until 2027
September 3, 2025
Kenya’s efforts to secure a new IMF program are expected to be lengthy, with financing unlikely before the 2027 elections, according to analysts. An IMF team visiting Nairobi this month will review debt risks, but analysts note that the IMF may require partial debt repayment first, making near-term agreement difficult. Kenya’s prior $3.6bn program expired in April without the final $850mn disbursement due to missed fiscal and revenue targets. Treasury Secretary John Mbadi said the government seeks a program aligned with its strategy, prioritizing tax predictability over new levies. Analysts from Absa and SocGen expect reform-linked negotiations to begin only in 2026, emphasizing the need for social acceptance alongside fiscal consolidation. Citigroup strategists doubt any new IMF deal will be politically credible ahead of elections. In the meantime, Kenya is pursuing alternative funding options such as diaspora bonds, privatizations, and refinancing.
Kenya’s dollar bonds reacted negatively, dropping by ~0.5 points across the curve with its 6.3% 2034s down to 83.66, yielding 9.27%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Kenya Considering Tapping Bond Markets To Refinance June 2024s
January 31, 2024
Kenya Launches Tender Offer for 2024s
February 8, 2024
Kenya Plans Buyback for $1bn of Dollar Debt
June 6, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.