AU5
Elder Lister
IMF Executive Board Approves a US$739 Million Disbursement to Kenya to Address the Impact of the COVID-19 Pandemic
May 6, 2020
May 6, 2020
- The IMF approved the disbursement of US$739 million to be drawn under the Rapid Credit Facility to support the authorities’ response to the COVID-19 pandemic.
- The COVID-19 pandemic is taking a serious toll on the Kenyan economy, significantly reducing growth, creating fiscal and external financing needs.
- It is important that the authorities resume their fiscal consolidation plans to reduce macroeconomic vulnerabilities once the crisis abates.