WASH­ING­TON:

The Pak Banker - - FRONT PAGE -

The Ex­ec­u­tive Board of the In­ter­na­tional Mon­e­tary Fund (IMF) ap­proved an-ex­ten­sion of both Kenya's StandBy Ar­range­ment (SBA) and Ar­range­ment un­der the Standby Credit Fa­cil­ity (SCF) to March 15, 2016. This ex­ten­sion will pro­vide time to the au­thor­i­ties to fi­nal­ize fis­cal mea­sures for 2015/16 and im­ple­ment struc­tural mea­sures un­der the pro­gram.

The 12-month SBA/SCF with a com­bined to­tal ac­cess of SDR 488.52 mil­lion were ap­proved by the IMF's Ex­ec­u­tive Board on Fe­bru­ary 2, 2015. Fol­low­ing the con­clu­sion of the first re­view in Septem­ber 2015, amounts avail­able un­der the ar­range­ments reached SDR 434.24 mil­lion for the Kenyan au­thor­i­ties to draw on in the event.

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