IMF visit to Kenya not expected to yield lending deal - CS Mbadi

The ​team from the Fund's headquarters in Washington arrived ​in Kenya last week and is expected to ⁠conclude the visit later this week.

Kenya's government has ​formally requested a new support programme after its ​previous $3.6 billion deal ended last April, but officials say they have not currently factored IMF funding into this ​year's budget.

Asked by Reuters if a new ​deal with the IMF had been reached, finance minister John ‌Mbadi ⁠said: "No, it's very far from it".

He was speaking at an event to announce results of an initial public offering in Kenya's state pipeline ​firm.

"IMF was not ​coming ⁠for any deal. They are coming for engagement," he said, describing the ​talks as technical.

The government, which raised $2.25 ​billion through ⁠new Eurobonds last month, has been turning to securitisation of some revenue streams to fund development ⁠projects, ​a move that initially curbed ​its ability to strike a deal with the IMF.