IMF Slaps Tough Terms on Kenya Loan Offer

The International Monetary Fund (IMF) has released a statement disclosing that tax, governance and monetary policy reforms, are part of its ongoing debt negotiations with the government. This is stoking fears of a return to painful prescriptions of the past, that resulted in civil servant job losses and increased taxes. The IMF says its stringent conditions would help stabilise the economy. Should Kenya accept the conditions, it could get a loan as early as 2021, the IMF said. "Kenya is seeking a quick-disburse loan from the fund to top up the public purse, which has taken a battering from the Covid-19 pandemic", Treasury Permanent Secretary, Julius Muia has said.

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Kenyan Shillings (file photo).

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