Eurobond: Is IMF playing games after Kenyan government cooked its books?

Cord leader Raila Odinga delivers a speech during a public forum on Eurobond saga held at Ufungamano in Nairobi on Thursday, February 11 2016. [PHOTO: DAVID NJAAGA/STANDARD}

What is the International Monetary Fund (IMF) up to?

In its latest review of Kenya’s accounts two months ago, the IMF board not only re-approved a programme whereby it had granted the Kenya government access to a ‘precautionary credit line’ (a kind of insurance policy against economic shocks) of US$750 million but it doubled this sum to $1.5 billion.