IMF’s thumbs-up to Treasury’s efforts in stabilising economy

Nairobi, Kenya: The International Monetary Fund (IMF) has welcomed austerity measures by the National Treasury aimed at restoring stability in the country’s finances.

IMF Kenya representative Armando Morales, who had two weeks ago warned that the Government would prioritise critical spending and cut non-essential expenditure, said the austerity measures announced recently would steer the country back to stability if properly enforced. “They (measures that have been announced) are exactly what will improve the country’s fiscal position to a point of sustainability and that is good news,” Mr Morales said in Nairobi.