Press Release No. 18/290

Staff Report for the 2018 Article IV Consultation and Establishment of Performance Criteria for the Second Review Under the Stand-By Arrangement for Kenya

July 12, 2018

On June 13, 2018, the Executive Board of the International Monetary Fund concluded the consideration of the 2018 Article IV Consultation and Establishment of Performance Criteria for the Second Review Under the Stand-By Arrangement with Kenya.

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country authorities.

The authorities need more time to consider the publication of the staff report and the related press release.