- Treasury CS John Mbadi held bilateral talks with a senior US Treasury official on the sidelines of the 2026 IMF/World Bank Annual Meetings in Bangkok
- The discussions covered Kenya's macroeconomic outlook, remittance flows, digital assets, and the Business Laws (Amendment) Act
- An IMF mission is expected in Nairobi in early December 2026 as Kenya works to restore a stalled loan programme
TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting, offering insights into Kenyan and global economic trends.
Kenya's Cabinet Secretary (CS) for the National Treasury, John Mbadi, held bilateral talks with Eric Meyer, deputy assistant secretary for Africa and the Middle East at the US Department of the Treasury, in Bangkok, Thailand, on Monday, October 12, on the sidelines of the 2026 IMF/World Bank Group Annual Meetings.
Source: Twitter
The National Treasury disclosed the engagement through a statement published on X, describing the meeting as part of Kenya's broader economic diplomacy with international partners.
Kenya's IMF programme under review
The talks covered a wide range of issues, including Kenya's macroeconomic outlook and the current state of the country's relationship with the International Monetary Fund.
Central to the IMF discussions was the forthcoming Article IV consultation, with an IMF mission scheduled to arrive in Nairobi in early December 2026.
"On the IMF programme, the discussions covered the forthcoming Article IV consultations, with an IMF mission expected in Nairobi in early December 2026," Treasury stated.
The two sides also reviewed progress on the publication of a Governance Diagnostic Report, which forms a key part of Kenya's ongoing engagement with the Fund on governance and public accountability.
What else featured in the IMF/World Bank discussions?
Beyond the IMF discussions, Mbadi and Meyer examined trends in remittance flows from the United States to Kenya, a significant source of foreign exchange for the country.
The two sides also explored opportunities for technical cooperation in the emerging field of digital assets, with potential US Treasury assistance on the table.
Development financing and health cooperation also featured prominently, with both sides considering how US development financing frameworks could broaden bilateral engagement and advance shared health priorities.
The Business Laws (Amendment) Act drew particular attention during the talks, with both parties exchanging views on its implications for Kenya's development financing environment and its effect on broader economic partnerships.
The Treasury described the engagement as forming part of Kenya's continued economic diplomacy, aimed at sustaining policy dialogue, expanding technical cooperation, and advancing the country's development objectives as it seeks to stabilise its public finances and restore confidence among multilateral lenders.
Why did the IMF loan stall?
Kenya's IMF programme has been under strain following the collapse of the government's proposed Finance Bill 2024, which was withdrawn in June 2024 after deadly anti-tax protests.
The bill's abandonment created a significant fiscal gap and disrupted the conditions attached to Kenya's Extended Fund Facility arrangement with the IMF.
Subsequent negotiations over a new programme structure have faced delays, leaving Kenya's access to IMF financing in limbo.
Source: TUKO.co.ke