This selected issues paper assesses Kenya's revenue performance, the labor market, and the health of the banking sector. It analyzes Kenya's revenue potential, tax system, and economic activity while increasing revenues; assesses the labor market; and also notes the nonperforming loans (NPLs) in the Kenyan banking sector, especially in public sector banks, and suggests structural measures to reduce cost pressures in the banking sector, lower the NPLs, and reduce the spread between lending and deposit interest rates. It also provides the detailed statistical appendix of Kenya.
International Monetary Fund. Middle East and Central Asia Dept.
On behalf of the Egyptian authorities, I would like to thank Management and the Board for their support in response to the sudden balance of payment shock under the RFI, and their continued support under this SBA request. We also thank staff for the close engagement during remote missions and the careful deliberations and reports. The authorities are in broad agreement with the assessment of the fallout on the economy from the COVID-19 pandemic and the policy response. I will focus this statement on the policies to mitigate the shock and support economic recovery and key priorities for the medium-term.