IMF Reaches Staff Level Agreement on the Third Review of the Extended Fund Facility and Extended Credit Facility for Kenya

A staff team from the International Monetary Fund (IMF) led by Mary Goodman, conducted a hybrid mission to Kenya and in Washington DC from March 31 – April 22

IMF staff and the Kenyan authorities have reached a staff-level agreement on economic policies to conclude the third reviews of the 38-month EFF/ECF financed program. Kenya would have access to about US$244 million in financing once the review is formally completed by the IMF Executive Board. The economic rebound is…

IMF Reaches Staff Level Agreement on the Second Reviews of the Extended Fund Facility and Extended Credit Facility for Kenya and Discusses the 2021 Article IV Consultation

Kenya would have access to about US$264 million in financing once the review is formally completed by the IMF Executive Board

IMF staff and the Kenyan authorities have reached a staff-level agreement on economic policies to conclude the second reviews of the 38-month EFF/ECF financed program. Kenya would have access to about US$264 million in financing once the review is formally completed by the IMF Executive Board; Economic rebound continues, building…

Coronavirus - Kenya: IMF Executive Board Approves a US$739 million Disbursement to Kenya to Address the Impact of the COVID-19 Pandemic

The COVID-19 pandemic is taking a serious toll on the Kenyan economy, significantly reducing growth, creating fiscal and external financing needs

The IMF approved the disbursement of US$739 million to be drawn under the Rapid Credit Facility to support the authorities’ response to the COVID-19 pandemic; The COVID-19 pandemic is taking a serious toll on the Kenyan economy, significantly reducing growth, creating fiscal and external financing needs; It is important that…

International Monetary Fund (IMF) Staff Concludes Visit to Kenya

A staff team from the International Monetary Fund (IMF), led by Benedict Clements, visited Kenya from November 18-22, 2019

Real GDP growth averaged 5.6 percent in the first half of 2019 and is expected to accelerate in the second half of 2019 and 2020; Inflation has remained within the target band and stood at 5.0 percent in October (year-on-year). A staff team from the International Monetary Fund (IMF), led…

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…

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…

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…

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…

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…

International Monetary Fund Statement on Kenya

IMF Resident Representative in Nairobi, Jan Mikkelsen, issued the following statement on Kenya today: “Further to some press reports earlier today, I would like to clarify the status of Kenya's Fund-supported program.” “The precautionary SBA/SCF arrangement remains in place until end-March 2018. The second and third reviews of the program,…