International Monetary Fund ‘back-up’ credit facility unnecessary, says expert

 

Barclays Africa Group Limited Chief Economist Jeff Gable (left) with Barclays bank Kenya Managing Director Jeremy Awori (right). [Photo: Courtesy]

Kenya does not need the International Monetary Fund's precautionary credit facility that ends in March, an economist has claimed.

Jeff Gable, chief economist for Barclays Africa, said yesterday the country has sufficient foreign currency reserves to shield itself against unexpected extraneous shocks.