IMF's Crucial Mission to Kenya Amid Economic Crisis

A team from the IMF is visiting Kenya to assess the situation after the government halted tax hikes amidst deadly protests. President Ruto's abandonment of the finance bill has increased Kenya's budget deficit and delayed IMF funding. The visit aims for dialogue on a balanced economic path.

A team from the International Monetary Fund (IMF) arrived in Kenya to assess the economic situation following the government's suspension of tax hikes due to deadly protests. This visit seeks to create a forward-looking strategy amidst the rising budget deficit and delayed IMF funding.

Julie Kozack, head of communications at the IMF, described the visit as a 'fact-finding mission' aimed at maintaining constructive dialogue with Kenyan authorities. She did not provide further details but promised updates upon the mission's completion.

Kenya, which secured a four-year IMF loan agreement in 2021 and additional lending for climate change measures in 2023, is facing regular reviews of its reforms. The most recent economic upheaval has delayed a crucial $600 million tranche from the IMF, originally expected later this month.

(With inputs from agencies.)