Thursday, May 4, 2023 – The International Monetary Fund (IMF) has commended Treasury Cabinet Secretary Prof Njuguna Ndung’u for stabilizing the Kenyan economy which was on its deathbed six months ago.
Speaking at State House Nairobi after a meeting with President William Ruto, IMF Managing Director Kristalina Georgieva commended the government’s fiscal measures and assured Kenya of IMF’s support towards its economic recovery.
“We commend you for what you are doing on your fiscal measures. The country is certainly headed in the right direction,” said Georgieva.
Georgieva further stated that the IMF will continue to work closely with Kenya to support its economic reforms, including its efforts towards debt sustainability and enhancing transparency and accountability.
Kenya’s economy was hard hit by the COVID-19 pandemic, political instability and rising inflation, with sectors such as tourism and hospitality taking a major hit. In addition, the country has been grappling with high debt levels, a major concern for the government and the IMF.
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