IMF gives Kenya $700m insurance loan

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IMF Managing Director Christine Lagarde shaking hands with Kenyan president Uhuru Kenyatta. 4 January 2014




The International Monetary Fund has agreed to make loans of around $700m (£460m) available to Kenya.
The money will be used as an insurance policy to protect against any threats to the country's economy, considered a financial powerhouse in East Africa.
The Kenyan government requested the package as a precautionary measure, in case of an emergency such as a natural disaster or militant attack.
The funds will be available for the next 12 months.

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