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Browsing: Benedict Clements
Just days after Kenya repealed a rate cap which portends the return of expensive loans for borrowers, the International Monetary Fund (IMF) visited the country to “discuss economic development”.
The IMF has held that the country’s real GDP growth averaged 5.6 per cent in the first half of 2019 and is expected to accelerate in the second half of 2019 and 2020.
It adds, “Inflation has remained within the target band and stood at 5.0 per cent in October (year-on-year).”
The IMF visit to Kenya
A staff team from the IMF led by Benedict Clements, visited Kenya from November 18-22, 2019, to among other things discuss “recent economic developments and the government’s reform plans”.
Another mission is planned in early 2020 to hold discussions on a new precautionary stand-by arrangement and undertake the Article IV consultation discussions.
According to the team, Kenya’s economy has continued to perform well.
At the …