The Central Bank of Kenya (CBK) will hold further discussions with the International Monetary Fund (IMF) in Washington DC next week regarding a new funding package. This follows a two-week visit by an IMF delegation to Nairobi.

• Governor Kamau Thugge confirmed the talks will aim to reach an agreement on a funded program as soon as possible.

• The IMF visit, led by Mission Chief for Kenya Haimanot Teffera, was in response to Kenya's request for a new Fund-supported arrangement.

• CBK is seeking new IMF backing after the collapse of the $3.6 billion Extended Fund Facility (EFF) and Extended Credit Facility (ECF) programs, valued at approximately $800 million, due to Kenya's failure to meet revenue collection and deficit reduction conditions.