An International Monetary Fund (IMF) team led by Haimanot Teferra concluded a five-day visit to Kenya from September 11 to 16, 2024.
The mission aimed to assess Kenya’s ongoing economic and fiscal challenges and discuss reforms to drive sustainable development in the country.
At the conclusion of the visit, Ms. Teferra issued a statement emphasizing the productive discussions held with Kenyan authorities.
“The Kenyan authorities and IMF staff had productive discussions on the authorities’ policies and reforms to address the evolving economic and fiscal challenges,” the statement read. The team reiterated its support for the Kenyan government’s reform efforts, particularly in the areas of governance and economic sustainability.
The IMF delegation’s visit is part of a broader effort to monitor and assist Kenya as it tackles significant financial pressures, including rising public debt and fiscal deficits. Kenya has been working under the IMF’s extended credit facility, a financial arrangement designed to support countries that are facing balance of payments difficulties.
Teferra noted the Kenyan government’s commitment to advancing economic reforms, which include efforts to boost revenue collection, rationalize spending, and ensure greater transparency in public financial management. These reforms are expected to foster inclusive and sustainable growth for the Kenyan economy, benefiting all citizens.
The IMF also reaffirmed its commitment to supporting Kenya’s ongoing review process, emphasizing the need to complete pending program evaluations under the IMF arrangement. “We remain fully committed to supporting the authorities on their efforts to identify a set of policies that could support the completion of the reviews under the ongoing program as soon as feasible,” said Teferra.
