Will effects of Kenya’s fallout with the IMF be felt this year?

National Treasury Director General Budget Fiscal and Economic Affairs Geofrey Mwau (right) and IMF expert Richard Allen during a session in which the lender published a fiscal transparency evaluation report for Kenya in Nairobi. [Willis Awandu, Standard]

When Central Bank of Kenya Governor Patrick Njoroge recently told off the International Monetary Fund (IMF) over the latter’s remarks that the Shilling was overvalued, it was to cap off what had been the frosty relations between Kenya and the global lender for the better of 2018.

Things started going south in February last year when it became apparent that the country had lost access to a precautionary credit facility.