IMF approves 29B loan to kenya.

The International Monetary Fund (IMF) said on Friday that its board of directors had approved a $ 258 million allocation to Kenya.

The International Monetary Fund (IMF) said in a statement that the board’s decision on the grant would increase the total financial support of the IMF under the Kenya Expenditure and Credit Assistance Program Program to $ 973 million.

“Kenya has shown high resilience to the COVID-19 shock in 2020 and is in the process of reviving the economy. Growth is now expected to increase to 5.9% by 2021,” the IMF said.

He said Kenya’s vaccination program against COVID-19 was gaining momentum, “although uncertainty and pressure from the epidemic will continue until the vaccine is widely available.”

The Kenyan authorities are showing serious commitment to their vulnerable reform program and have maintained strict control over public spending to reduce the deficit, the IMF said.

%d bloggers like this: