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You are looking at 1 - 5 of 5 items for :

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Cover IMF Staff Country Reports
Kenya: 2021 Article IV Consultation; Second Reviews Under the Extended Arrangement Under the Extended Fund Facility and Under the Arrangement Under the Extended Credit Facility, and requests for Modifications of Performance Criteria and Structural Conditionality-Press Release; and Staff Report
International Monetary Fund. African Dept.
Kenya’s medium-term economic outlook remains positive, supported by the authorities’ continued firm commitment to their economic program amidst a complex environment. Economic recovery is well underway, but Kenya’s Sustainable Development Goals (SDGs) have suffered significant setbacks, and poverty has increased. The authorities see the program as providing essential support for sound fiscal management ahead of the 2022 elections, reinforcing their multi-year fiscal consolidation plan to reduce debt vulnerabilities and preserve priority social and development spending.
Keywords:
debt vulnerability; management information system module; Kenyan authorities; authorities' monetary policy stance; response to the pandemic; COVID-19; Government debt management; Global; Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Kenya: Requests for an Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Kenya
International Monetary Fund. African Dept.
Kenya has been hit hard by the COVID-19 pandemic. Despite a forceful policy response by the authorities, the socio-economic impact has been significant. The shock has also exacerbated the country’s pre-existing fiscal vulnerabilities, pushing Kenya into high risk of debt distress. While the economy is now recovering, fiscal and balance-of-payments financing needs remain sizable over the medium term.
Keywords:
ECF arrangement; financing strategy; debt vulnerability; financing package; support package; procurement information portal; Kenya's debt; development partner; COVID-19; Credit; Global
Cover Regional Economic Outlook, October 2020, Sub-Saharan Africa
Regional Economic Outlook, October 2020, Sub-Saharan Africa
A Difficult Road to Recovery
International Monetary Fund. African Dept.

Abstract

Sub-Saharan Africa is struggling to navigate an unprecedented health and economic crisis—one that, in just a few months, has jeopardized decades of hard-won development gains and upended the lives and livelihoods of millions.

Keywords:
reopening; recovery; crisis; pandemic; recession; REO; financing gap; commodity-exporting country; policy mix; governance reform; policy challenge; IMF staff calculation; exchange market pressure index; financial support; IMF role; transfer program; international community; financial crisis; financing difficulties; market terms; food price inflation; COVID-19; Oil prices; Debt service; Sub-Saharan Africa; Africa; Global; West Africa; Inflation
Cover IMF Staff Country Reports
Republic of Kenya: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Kenya
International Monetary Fund. African Dept.
This paper discusses the Republic of Kenya’s Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 pandemic is taking a serious toll on the Kenyan economy, significantly reducing growth, creating fiscal and external financing needs. It is important that the authorities resume their fiscal consolidation plans to reduce macroeconomic vulnerabilities once the crisis abates. The pandemic has impacted nearly all facets of the economy—particularly tourism, transport, and trade—and led to urgent balance of payments and fiscal financing needs. Emergency financing under the RCF will deliver liquidity support to help Kenya cover its balance of payments gap this year. It will provide much-needed resources for fiscal interventions to safeguard public health and support households and firms affected by the crisis. It will also catalyze necessary financing from other donors. The Central Bank of Kenya (CBK) has taken various measures to maintain enough liquidity in the financial sector. It should continue to stand ready to further support the economy and the financial sector’s health, as necessary, while ensuring that policy decisions are data driven. The CBK should also continue to allow the exchange rate to act as a shock absorber.
Keywords:
ISCR; CR; financing; Kenya; emergency financing request; AFRITAC East; debt; debt vulnerability; fiscal financing; WB mission; expenditure measure; BOP financing gap; COVID-19; Government finance statistics; Global
Cover Finance & Development
Finance & Development, June 1994
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Keywords:
FD; F&D; country; domestic policy action; market; government; pollution; policy advice; airing of the debate; GEF restructuring; political orientation; Water resources; HIV and AIDS; Currency markets; East Asia; Asia and Pacific; South Asia; Africa; Global