Kenya Targets New IMF Deal by July as Iran War Risks Mount

Kenya expects to conclude talks on a new International Monetary Fund program by July to bolster its buffers against shocks stemming from the Iran war, Treasury Secretary John Mbadi said.

“Maybe towards either June or July, we’ll have agreed on whether they can give us a funded program,” the minister said at a briefing in the capital, Nairobi Monday, without specifying the size of the request. He has previously said it could get 100 billion shillings ($774 million).

John Mbadi

Photographer: Kang-Chun Cheng/Bloomberg

Funds from the Washington-based lender will help “support our fiscal strength and fiscal space,” he said.

Talks with the lender have ...