3 January 2014

Kenya: IMF Managing Director to Visit Kenya for Talks

Photo: IMF/Stephen Jaffe
International Monetary Fund Managing Director Christine Lagarde (L) meets with Mali's Minister of Economy and Finance Bouare Filly Sissoko (R) at the Bamako International Airport January 8, 2014 at in Bamako, Mali. Lagarde is on a two country visit to Africa.

Managing Director of the International Monetary Fund (IMF) Christine Lagarde is expected to arrive in Kenya on Sunday for three days of high-level talks, the organisation announced Thursday (January 2nd).

"I am very much looking forward to my visit to underline the Fund's strong partnership with Kenya," Lagarde said in a statement. "Kenya has emerged as one of Africa's 'frontier economies', and I am very interested in learning how the country's leaders and people will build on this success moving forward."

Lagarde is scheduled to meet with President Uhuru Kenyatta and his cabinet, lawmakers, as well as civil society representatives. She is also expected to deliver a speech to private sector leaders.

The talks come within the context of the IMF's recently concluded three-year Extended Credit Facility to Kenya, which provided 65.1 billion shillings ($750 million) between 2011 and 2013, Kenya's Daily Nation reported.

"During our meeting, I will update [Lagarde] on what is happening in the country and some of the key economic challenges," Kenyan Treasury Cabinet Secretary Henry Rotich said. "The extended credit facility is also coming to an end and we will discuss future partnerships between the IMF and Kenya."

Lagarde is the first sitting IMF managing director to visit Nairobi, signalling improved relations between Kenya and the organisation.

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