Senior IMF official set to visit Kenya
The International Monetary Fund (IMF) has announced the planned visit of Deputy Managing Director Nigel Clarke to Kenya
The International Monetary Fund (IMF) has announced the planned visit of Deputy Managing Director Nigel Clarke to Kenya.
During a press briefing on Thursday, November 21, IMF’s Director of Communications Julie Kozack revealed that the Deputy MD would be in Kenya for a two-day visit starting on December 9, 2024.
For the two days, the official is expected to hold discussions with various government officials including those from the National Treasury.
“Deputy Managing Director Nigel Clarke will travel to Nairobi, Kenya, on December 9th and 10th as part of our ongoing engagements with Kenya,” she announced.
“During his visit, DMD Clarke will meet with the authorities and other key stakeholders, and we’ll provide more updates on this trip as they become available.”
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In response to questions over its stand on the government’s move to borrow from the United Arab Emirates (UAE), the IMF opined that President William Ruto’s administration needs to consider the country’s debt vulnerabilities.
“Any new borrowing should be considered within the context of a comprehensive fiscal strategy to reduce debt vulnerabilities while also addressing the recent and emerging fiscal challenges,” Kozack commented.
“And with respect to the next steps, I don’t have any update at the moment, but we will keep you posted once we have more to share.”
Reports suggest that the government is in talks with the UAE for a Ksh190 billion loan facility.
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