Kenya’s National Treasury is negotiating a USD 1 bn loan with China, potentially used to repay a Eurobond due next year. Kenya expects a tranche from the IMF in January and World Bank financing in March. Economic growth is forecast at 5.6% in Q3 2023 and 5.7% in Q4 2023, with a projected increase to 5.9% in 2024. Officials see the KES’s current weakness as excessive, and strict measures are being considered to stabilize it. Remittances are expected to reach USD 4.19 bln in 2023 and USD 4.4 bln in 2024. Meanwhile, officials plan a second supplementary to reduce the fiscal deficit from 5.5% to 4.7% of GDP.