THBT it is in the interests of the Kenyan people for the Kenyan government to extend its IMF program rather than for the government to restructure its existing debt
Right now, Kenya is facing a severe fiscal crisis caused by a variety of factors including corruption, consistently large budget deficits, and a slow recovery from COVID-19. In 2021, Kenya and the IMF agreed to a program where the IMF would provide Kenya with $2.34 billion over three years along with a framework for reducing corruption, raising tax revenues, and controlling spending. Kenya has since extended the program, which is now set to expire in 2025. When a country restructures its debt, the government bargains with creditors to reduce interest rates on debt, decrease monthly payments, and extend repayment terms.