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Browsing: Coronavirus cases in Uganda
The East African coronavirus (COVID-19) battle has been fortified with $1.23 billion from the International Monetary Fund (IMF).
Both Kenya and Uganda have so far confirmed more than 600 cases of the virus.
COVID-19 Funding in Kenya
According to the IMF statement, on Wednesday the IMF Executive Board approved the disbursement of SDR542.8 million (100 per cent of quota, about US$739 million) to be drawn under the Rapid Credit Facility (RCF).
“This will help to meet Kenya’s urgent balance of payments need stemming from the outbreak of the COVID-19 pandemic,” The statement read in part.
The impact of COVID-19 on the Kenyan economy will be severe. It will act through both global and domestic channels, and downside risks remain large.
The Kenyan authorities have taken decisive action to respond to the pandemic’s health and economic impacts, the sudden shock has left Kenya with significant fiscal and external financing needs. Authorities …
