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IMF now backs State's move to stem rise in fuel pump prices

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A pump operator fueling motobike at the Shell Petrol station along Kenyatta Avenue in Nairobi on July 1, 2023. [Edward Kiplimo, Standard]

The International Monetary Fund (IMF) has backed the government's change of heart on fuel subsidies amid rising pressure to bring down the high cost of living.

The move was expected to see the government incur the wrath of the IMF, which has disbursed billions of shillings in financing to the new administration but has been against such subsidies.

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