The International Monetary Fund (IMF) has sent some of its officials to Kenya on a fact-finding mission at a time when the country is grappling with a host of economic challenges.
During a press briefing, Julie Kozack, Director of the IMF Communications Department explained that the government is facing a tough balancing act in funding critical areas such as health and education while at the same time managing the rising public debt.
She stated that the IMF officials will be engaging with President William Ruto’sadmininistration to review the current economic challenges and review the Extended Fund Facility (EFF)/ Extended Credit Facility (ECF) arrangements program.
The program aims at assisting the Kenyan government establish macroeconomic policies that will enable sustainable growth across various sectors and furthermore create job opportunities.
She also noted that the public should be involved during the formulation of such policies to gain a massive appeal.
“The program includes initiatives to improve governance and transparency and to ensure the proper use, to ensure the responsible use of public funds. But it is also important that these policies go through a process of broad consultation so that they can gain the necessary public support,” she stated.
“And we’re currently working with the authorities to ensure that the objectives of the program can be met.”
She promised more updates once the officials conclude the visit.
This comes as IMF recently approved a loan to the Kenyan government worth Ksh.126 billion, with an immediate disbursement of 80 billion.
