IMF urges Kenya to limit spending as agreed in loan deal

The International Monetary Fund (IMF) will insist that Kenya adheres to agreed spending cuts in its first assessment of the Government’s fiscal stance under a Sh150 billion ($1.5 billion) standby-loan agreement.PHOTO: COURTESY

The International Monetary Fund (IMF) will insist that Kenya adheres to agreed spending cuts in its first assessment of the Government’s fiscal stance under a Sh150 billion ($1.5 billion) standby-loan agreement.

IMF officials will be in the capital, Nairobi, later this month to examine whether the Treasury is complying with commitments made under the precautionary financing facility arranged in March, said Armando Morales, the Washington-based lender’s representative in Kenya.