IMF Loans Kenya ksh 240 Billion

$2.4 Billion. They expect the Economy to rebound 7.6% from the 0.1% contraction last year.

https://finance.yahoo.com/news/1-imf-kenya-reach-agreement-163817406.html

The International Monetary Fundand Kenya have reached a staff-level agreement on a three-year$2.4 billion financing package, the fund said on Monday.

It said the funding will be under its Extended Fund Facilityand Extended Credit Facility arrangements and will be subject toits management approval and Executive Board consideration in thecoming weeks.

“The program will support the next phase of the country’sCOVID-19 response and the authorities’ plans for a strongmulti-year effort to stabilise and begin reducing debt levelsrelative to GDP,” the IMF said in a statement.

The fund said it also forecast Kenya’s economic growth torebound to 7.6% in 2021, from a contraction of 0.1% last year,helped by school re-openings and the removal of coronavirusrestrictions.

For nearly two years, Kenya has abandoned expensivecommercial debt to cut back on ballooning repayments, whilerevenue collection has been squeezed by the pandemic.

It also faces huge budget deficits that have been deepenedby the coronavirus crisis.

"Markets will be encouraged by this development as itcreates an anchor for Kenya’s fiscal consolidation process,"said Razia Khan, head of research for Africa at StandardChartered in London, adding that for now any fiscalconsolidation will be ‘eventual’.

“Perhaps most significantly, the IMF programme – onceapproved by the Executive Board – will aim to stabilise debtthrough the achievement of a primary fiscal surplus.”

Last week, the finance ministry said Kenya had to raise itsdebt ceiling of 9.0 trillion shillings to accommodate fiscaldeficits in the coming financial years.

Total debt stood at 7.3 trillion shillings at the end oflast year, equivalent to 65.6% of GDP.

65% of Gdp if you believe KNBS data and I sure as fuck don’t

Some statistical manipulation has always been there but Wanjohi’s gov went to pluto with the gdp rebasing exercise and they haven’t been back since

Now they do not even pretend to be genuine 7.6% growth? :D:D:D

It will end in glorious HD premium tears. A prudent government would have begun rigorously implementing austerity and spending cuts. Instead the bloody fackn fools are busy ramping up spending through that abomination called BBI:D:D:D:D:D:D

Bonobo republic

Pesa za campaign ndizo hizoooo

Campaign ya BBI. :D:D:D:D:D

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Kwani kenya ilitolewa CRB lini? Hiyo fuliza yote nani analipa?

Curfew hadi december watu yangu:D:D

Mwananchi tu. Expect fuel prices zifike 120sh per litre, new taxes to be invented and prices of goods to go up

Tutaumia

244 billion ni pesa kidogo sana. If all AMG members in kenya liquidated their assets tunaeza ilipa within 2 weeks max.

If you read that article you will know that Kenya is in deep shit. Our economy is in ICU kuzidisha next year is an election year, everything will stop.

We have already starting paying through austerity measures. Taxes, high cost of living, budget cuts etc.

vile @sani husema ,wakenya mmejipiga kitu.

Hizo AMG ziko on loan pia.

They declined the austerity measures that’s why they have to start borrowing. Austerity measures are coming. You will know when you see them. For example government workers will have to take pay cuts or deferred pay.

Nooo, AMG members we only do cash baba…ogopa sana sisi!

Wapi @johnpombe the gvt sanitizer, spin this one dj mharo.

BBI ni upussss

Kwanza hiyo 7 year tax window hahahaha!

The only thing it seeks to do is to create watchmen for the looters interest, time is almost up for them