The Kenyan authorities have shown strong commitment amid challenging circumstances and are acting to reduce debt vulnerabilities while maintaining support for the economic recovery, the IMF said in a statement after the executive board completed a review of its loan programs.Kenya also is moving forward on its governance and structural-reform agenda, and recent publication of extensive audits of Covid-19 spending has enhanced transparency and accountability, the fund said.
The Central Bank of Kenya’s monetary policy should remain accommodative as long as inflation and price expectations remain well-anchored within the target band, Sayeh said. Keeping a close supervision on credit risks and provisioning should be a priority, she said. Under the 38-month IMF program, “the primary balance target for end-March was achieved by a comfortable margin, alongside all targets related to debt guarantees as well as the Central Bank of Kenya net international reserves,” Kenyan National Treasury Secretary Ukur Yatani said in a statement on Twitter on Wednesday that preceded the IMF’s announcement.
Half of the money will be stolen by Kenya Government officials! The common man will see no difference at all! IMFSpokesperson IMFNews IMFAfrica!
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