The International Monetary Fund (IMF) has deployed a team to Kenya on a fact-finding mission over the country's budgetary needs.
Speaking during a press briefing on Thursday, September 12, IMF Director of Communications Julie Kozack, revealed that the IMF was in talks with President William Ruto's administration over financial assistance.
She detailed that the report by the fact-finding team would help the financial institution make decisions about its programme assistance to the country.
"Right now, there is an IMF staff visit in Kenya. This is a fact-finding mission and is part of our ongoing and constructive dialogue with the Kenyan authorities to find a balanced path forward. And we'll provide further updates after the visit concludes," the official stated.
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Meanwhile, the IMF official Underpinned that the organisation was keen on assisting Kenya to meet various fiscal targets amidst economic challenges facing countries across the globe.
Among the areas that the IMF noted need to be addressed by the Kenyan authorities include management of public debt and raising domestic revenue.
Additionally, the international financial institution added that the government ought to focus on initiatives aimed at creating jobs for the youth.
"The program includes initiatives to improve governance and transparency and to ensure the proper use, to ensure the responsible use of public funds. But it is also important that these policies go through a process of broad consultation so that they can gain the necessary public support," Kozack remarked.
"And we're currently working with the authorities to ensure that the objectives of the program can be met."
IMF is one of the leading financial lenders for Kenya. Notably, through its financial assistance programmes, the IMF puts various conditions on the loans to the government.
Some of the conditions include revenue generation initiatives, a move that has seen the government in recent years implement new tax measures.
However, some of the tax measures have been met with resistance as witnessed during the Anti-Finance Bill 2024 protests.
