The International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke will travel to Nairobi, Kenya, in the coming weeks. IMF Deputy Managing Director Nigel Clarke and Kenya’s President William Ruto during past events. According to Julie Kozack, the IMF director of communications, the December 9 and 10 visits are part of the ongoing engagements with Kenyans. Kozak noted that Clarke will meet with relevant authorities and key stakeholders during his visit to Kenya.
During the press briefing, Kozack also highlighted recent IMF funding to Kenya, noting that the IMF executive board concluded the seventh and eighth reviews of the ECF and EFF Blended Programme on October 30, as well as the review of the RSF. This allowed a disbursement of $606 million (about KSh 78.5 billion), bringing the total disbursements under the programs to about $3.1 billion.
Kozack noted that Kenya’s debt and funding situation reflected the broader challenges facing sub-saharan countries when it comes to balancing government spending and the rising debt burden. “Maybe just to add that Kenya’s situation does reflect again broader challenges facing many countries in the region.
And the policymakers in Kenya like in much of the region, do face a complex balancing act between pressing spending needs for priority areas, including social programs, health and education, managing the rising burden of public debt and boosting domestic revenues,” Kozack said.
by Elijah Ntongai
