Nairobi, March 14 -- The executive board of the International Monetary Fund (IMF) has extended the limit increase on countries' cumulative access to funds, allowing more borrowing headroom.

This extension will allow countries such as Kenya, which are on the brink of breaching the normal limit.

The multilateral lender had last year increased the limits for cumulative access to 600 percent of the quota, up from the normal 435 percent, and the annual limit from 145 percent to 200 percent. Quotas refer to a country's share of IMF's resources, with the estimate for Kenya at about Sh100 billion.

"The Executive Board of the International Monetary Fund (IMF) approved on March 4, 2024 an extension until end of 2024 of the temporary increase in ...