Source: International Monetary Fund (IMF) |

Kenya Implements the International Monetary Fund’s Enhanced General Data Dissemination System

The Enhanced General Data Dissemination System (e-GDDS) was established by the IMF in 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and surveillance

Kenya has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through the National Summary Data Page (NSDP). The e-GDDS was established by the IMF in 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and…

Source: International Monetary Fund (IMF) |

Looking Ahead to Chart Today’s Course: The Future of Work in sub-Saharan Africa

Opening Remarks by Christine Lagarde, Managing Director, International Monetary Fund

As Prepared for Delivery Introduction Thank you, Minister Gyan-Baffour, for that kind introduction. I would like to extend my sincere gratitude to Vice-President Bawumia and the Ghanaian government for co-hosting this conference with the IMF. Your excellency, Vice-President Bawumia, Minister Gyan-Baffour, honored guests — it is my pleasure to welcome…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth accelerating to 5.7 percent in the first quarter of 2018, from 4.9 percent in 2017

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) |

International Monetary Fund Executive Board Approves 6-Month Extension of the Stand-By Arrangement with Kenya

The reviews are expected to be completed by September 2018

On March 12, 2018, the Executive Board of the International Monetary Fund approved Kenyan authorities’ request for a 6-month extension of the country’s Stand-By Arrangement to allow additional time to complete the outstanding reviews. The reviews are expected to be completed by September 2018. Completion of the reviews will enable…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Kenya

Annual growth could rise further to 6½ percent within a couple of years

The authorities requested a six-month extension of the SBA that expires on March 13, 2018 to allow more time to complete the outstanding reviews of the IMF-supported program. In support of this request, the authorities have committed to policies to achieve the program objectives, including reducing the fiscal deficit and…

Source: International Monetary Fund (IMF) |

IMF Hosts Conference on “Managing Capital Flows: Challenges for Developing Countries” in Zambia

The conference provided a forum for policy makers to share experiences on how best to reap the benefits from capital flows, while managing the risks

Participants agreed that capital flows to developing countries are generally beneficial—particularly in the current context of a much leaner environment—by providing an important source of financing for investments and by helping to maintain foreign exchange reserves. Participants agreed that (i) the composition of capital flows matters for financial stability and…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Kenya

Kenya’s economy has continued to perform well, with real GDP growth reaching 5.9 percent in the first three quarters of 2016, up from 5.6 percent in 2015

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Review Under the Stand-By Arrangement and Standby Credit Facility Arrangement for Kenya

IMF Board approved completion of first review of Kenya’s economic program supported by the Stand-By Arrangement (SBA) and the Standby Credit Facility (SCF). Kenyan authorities indicated that they do not intend to draw on the SBA and SCF arrangements (about US$1.5 billion in total), unless there is a balance of…

Source: International Monetary Fund (IMF) |

Statement by the IMF Mission on Somalia

During the visit, the team met with Finance Minister Mohamed Adan Ibrahim; the Minister of Planning and International Cooperation Abdirahman Yusuf Hussein Aynte, Central Bank Governor Bashir Issa Ali, Director General at the Office of the President Ali Omar, and other officials

An International Monetary Fund (IMF) team led by Mohamad Elhage visited Nairobi from November 14–21 to hold discussions with the Somali authorities on the 2016 Article IV Consultation and the first review of the Staff-Monitored Program (SMP). Discussions covered recent economic developments for Somalia including: the near-and medium-term outlook, economic…