''Stop seeking loan holidays.'' Chinese lenders says to Kenyan Government
WanjiruWarobi 
The government is considering using The International Monetary Fund (IMF) aid to settle the 50 billion debt to China. The government had asked for an extension to pay the loan from that the Chinese lenders who are members of the G20 countries refused and asked them to look for the money to pay back the loan. This means that the aid money from the IMF will not be used to finance the budget as has been the case previously.
A report by the Ministry of National Treasury and Planning, the government will use the additional allocation of IMF reserves in Special Drawing Rights assets to clear the loan.SDRs can be used to settle foreign public debt since they are the IMF's unit of exchange based on Sterling Pound, US Dollars, Euros, Yen, and Yuan.
Haron Sirima the Director-General for Public Debt Management at the Treasury in a recent interview was quoted saying''“The Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to Public-Private Partnership (PPP) and tapping the IMF reserves,”
