Kenya is preparing for follow-up talks with the International Monetary Fund (IMF) next week to finalize a new loan program, with a key point of contention being the classification of securitized debt. Treasury Cabinet Secretary John Mbadi is confident an agreement will be reached.

• The current loan discussions are centered on how IMF views securitized debt used by Kenya to fund projects, such as the Ksh175 billion raised from the fuel levy.
• The IMF wants securitized borrowing classified as normal debt, while Kenya considers it a way to avoid accumulating more debt.
• Kenya's previous $3.6 billion (Ksh465.1 billion) program with the IMF expired earlier this year, and a new lending component is expected to service external debt payments.