IMF Boss praises Ruto for Kenya’s economic trajectory
IMF Boss Kristalina Georgieva praises Ruto for Kenya's economic trajectory as she pledges support in three key areas
IMF Boss Kristalina Georgieva praises Ruto for Kenya’s economic trajectory as she pledges support in three key areas.
On May 3, President William Ruto received glowing praise from the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, for the direction of the nation’s economy.
While meeting the Head of State in Nairobi, Kristalina noted that she was impressed by the economic direction Kenya was taking.
She pointed out that this had been made possible by the strict procedures Ruto had implemented after succeeding Uhuru Kenyatta.
Kristalina was especially pleased by the government’s investment dynamism, responsible budgetary policies, and transparent governance, which have put the nation on the path to success.
“We commend you for what you are doing on your fiscal measures. The country is certainly headed in the right direction,” she told the President.
The IMF boss who was on a three-day visit to Kenya further revealed that the Fund would support Kenya in three key areas.
On top of the agenda was a meeting with Ruto to discuss prospects for Kenya and how IMF can help.
“We are going to look at how the Fund can support objectives of stronger growth, more inclusive growth, and better economic performance,” she stated.
On the second area of cooperation, Kristalina revealed that she was going to meet leaders of the United Nations system to see how Kenya and Africa in general could be helped economically.
“It is a challenging time to discuss how we can collectively support our members to bring down inflation, to address the cost of living crises, and to lift productivity for growth,” she stated how Kenya would benefit from her visit.
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Lastly, she explained that the last day of her visit would involve a meeting with World Trade Organisation Ngozi Okonjo and ministers from across the continent to present an IMF paper detailing the recovery path for developing nations in Africa.
“The IMF paper will talk about how trade can contribute to growth and employment,” she explained.
The IMF would provide detailed recommendations on how to capitalize on the immense potential of the African Continental Free Trade Area, according to Kristalina.
Kristalina received assurance from President William Ruto that his administration was dedicated to keeping the nation’s debt at manageable levels.
He also emphasized that the government had terminated subsidized programs that were depleting the nation’s resources and reduced the number of new projects.
“We commit to staying the course, especially on fiscal discipline and giving priority to projects that will have a circulation of money,” the President remarked.
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