IMF to consider Kenya’s economic plan at end of August, chief minister says
2024.07.23 03:29
NAIROBI (Reuters) – Kenya has submitted an economic repair plan to the International Monetary Fund and it expects the fund’s board to review it for approval at a meeting at the end of August, the country’s chief minister has said.
Kenya has been forced to rapidly draw up new spending cuts after widespread youth-led protests against tax hikes previously put forward by President William Ruto’s government left at least 50 people dead.
“The Treasury has had a very robust engagement with the International Monetary Fund, even in the midst of the challenges we have been facing,” Musalia Mudavadi, the chief minister, told parliament’s budget committee in remarks seen by Reuters on Tuesday.
He said the government has presented its economic policies and programmes plan to the fund, and it will be considered by the IMF board at the end of August.
“It is our desire and hope that Kenya’s proposition will receive favourable consideration so that we can move beyond the challenges that we are facing,” Mudavadi told the panel of lawmakers.
