Kenya

The Executive Board approved on March 14, 2016 a 24-month Stand-By Arrangement (SBA) and an arrangement under the Standby Credit Facility (SCF), with combined access of SDR 1.063888 billion (196 percent of quota). The first tranche of SDR 542.8 million (100 percent of quota) was made available upon approval of the arrangements, and a further SDR 56.994 million (10.5 percent of quota) will become available upon completion of the first reviews. The authorities intend to continue treating both arrangements as precautionary, and to draw only if exogenous shocks lead to an actual balance of payment need.