IMF issues statement after the conclusion of a 6-day staff visit to Kenya
A team from the International Monetary Fund (IMF), led by Haimanot Teferra, the IMF's Mission Chief to Kenya, has concluded a six-day visit to the country
A team from the International Monetary Fund (IMF), led by Haimanot Teferra, the IMF’s Mission Chief to Kenya, has concluded a six-day visit to the country.
In a statement on Tuesday, September 17, the IMF disclosed that the team held discussions with Kenyan authorities from September 11 to 16, focusing on recent developments and their policies to address emerging challenges.
“The Kenyan authorities and IMF staff had productive discussions on the authorities’ policies and reforms to address the evolving economic and fiscal challenges,” Teferra remarked.
At the same time, she confirmed that the IMF remains committed to supporting Kenya in its efforts to develop a set of policies that will facilitate the timely completion of reviews under the IMF’s program.
“The authorities expressed commitment to advancing economic and governance reforms which are crucial for fostering sustainable and inclusive growth that benefits all Kenyans. We will continue our discussions with the authorities,” Teferra explained.
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In a press briefing on Thursday, September 12, IMF Director of Communications Julie Kozack, revealed that the IMF was in talks with President William Ruto’s administration over financial assistance.
Kozack noted that the report by the fact-finding team would help the financial institution make decisions about its program assistance to the country.
IMF is one of the leading financial lenders for Kenya. Notably, through its financial assistance programs, the IMF puts various conditions on the loans to the government.
Some of the conditions include revenue generation initiatives, a move that has seen the government in recent years implement new tax measures.
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