Treasury avoids IMF loans in new budget
Nairobi, May 7 -- Kenya has omitted funding from the International Monetary Fund (IMF) in the national budget for the year starting July in the wake of uncertainty whether fresh talks tied to tough conditions could unlock multi-billion shilling loans.
Documents tabled in Parliament show the Treasury is not expecting new inflows from any of the IMF's funding options, including the extended credit facility (ECF), the extended fund facility (EFF) or the resilience and sustainability fund (RSF).
This will see the country escape tough lending conditions attached to the fund's support, including higher taxes, job freezes and spending cuts.
The government has been seen to approach fresh IMF talks with caution after the termination of Kenya's ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.