The International Monetary Fund (IMF) has announced plans to assess the current situation in Kenya. IMF spokesperson Julie Kozack informed the press that the assessment’s findings will be integrated into the Fund’s ongoing program reviews with Kenya.
This comes after Kenya experienced weeks of protests with investigations surrounding the demonstrations still ongoing.
Kozack indicated that these reviews would allow the IMF to adjust its fiscal recommendations for Kenya based on the country’s evolving circumstances, including recent protests that led to the withdrawal of the Finance Bill 2024.
Julie Kozack stated in a press briefing:
“At every program review we do take the opportunity to assess developments and make adjustments considering the evolving circumstances,”.
“And that’s exactly what we’re doing in our active and constructive discussion with the Kenyan authorities.”
IMF Expected Funding
The IMF program was projected to provide Ksh 124 billion ($976 million) in external funding for Kenya’s fiscal year 2025, accounting for approximately one-third of the government’s budgeted net external financing.
Addressing recent demonstrations in Kenya, the IMF expressed deep concern over the tragic events and affirmed its commitment to maintaining ongoing, constructive dialogue with Ruto’s administration.
“Our thoughts are with all the people affected by the turmoil in the country.”
“Our main goal in supporting Kenya is to help it overcome the difficult economic challenges it faces and improve its economic prospects and the well-being of its people.”
