A team from the International Monetary Fund is in ​Kenya to discuss ⁠a new loan programme, the government and the Fund ‌said.

The East African nation has sought to clinch a new lending programme after ​the expiry of the previous $3.6 billion deal in April and the two sides ​have since ​held a series of talks in Nairobi and Washington.

"An IMF team is scheduled to visit Kenya from 24 February ⁠to 4 March 2026 to continue discussions on a successor arrangement aimed at supporting key policy reforms and potentially providing financial assistance," the government said in a Eurobond prospectus released publicly late on Tuesday.

The ​talks ‌are aimed at ⁠ensuring that ⁠any new programme aligns with Kenya's "fiscal and economic priorities" while supporting macroeconomic stability, the ​government said in the prospectus, part of a $2.25 ‌billion issuance last week.

The Washington-based lender ⁠confirmed that the staff mission had started.

"We continue to engage in close and constructive dialogue with the Kenyan authorities, including on their request for a new IMF-supported program," an IMF spokesperson told Reuters.

Finance Minister John Mbadi said earlier this month that Nairobi had formally requested a new programme. The government has not factored in IMF funding for the current fiscal year and the ‌next one starting in July but is keen to ⁠strike a deal with the IMF to ​bolster investor confidence, Mbadi said.

Grappling with high debt servicing, the government has turned to securitisation of some revenue streams to fund development projects, ​a move ‌that initially curbed its ability to strike a ⁠deal with the IMF.

(Reporting by ​Duncan Miriri. Editing by Philippa Fletcher and Mark Potter)