Kenya Seeks IMF Evaluation Amid Corruption Concerns

Kenya's government has requested an IMF assessment of corruption and governance issues after pressure from Western nations. This request aims to strengthen anti-corruption policies and improve public spending. It follows Kenya's withdrawal of proposed tax hikes amidst protests and challenges in unlocking a $600 million IMF disbursement.

Kenya's government has invited the International Monetary Fund to conduct a comprehensive assessment of corruption and governance concerns within the country, as confirmed by the IMF in communication with Reuters. This move comes in response to pressure from Western nations concerned about Kenya's escalating debt issues.

The assessment, known as a governance diagnostic, evaluates whether governance vulnerabilities are draining state revenue or creating other financial problems. An IMF spokesperson revealed the agency has received the request and intends to help Kenya enhance its anti-corruption frameworks.

This development follows significant street protests that led to President William Ruto retracting a $2.7 billion tax increase proposal. The diagnostic is not directly tied to Kenya securing a $600 million IMF disbursement, but it is seen as a goodwill gesture to reaffirm the country's commitment to financial reform.

(With inputs from agencies.)