IMF Raises Concerns Over Kenya’s $1.5 Billion Loan from UAE

• IMF warns of potential forex risks from dollar-denominated loan
• Kenya argues UAE loan is cheaper than Eurobond, aims to cut domestic borrowing

Nairobi, Kenya – The International Monetary Fund (IMF) has raised concerns about Kenya’s plan to secure a $1.5 billion commercial loan from the UAE, citing potential exposure to foreign exchange risks. As a dollar-denominated bond, the multilateral lender noted that Kenya could face increased vulnerability to currency fluctuations.