Kenya: Request for an Extension of the Arrangement Under the Extended Credit Facility-Press Release; and Staff Report

February 2, 2016

Preview Citation

Format: Chicago

Kenya: Request for an Extension of the Arrangement Under the Extended Credit Facility-Press Release; and Staff Report, (USA: International Monetary Fund, 2016) accessed September 19, 2024

Summary

This paper requests an extension of the 12-month Stand By Arrangement and the Standby Credit Facility Arrangement to obtain enough time to finalize fiscal measures for 2015/16 and implement structural measures under the program. Although at a slower-than-projected pace, the economy continued to expand robustly. Driven by public infrastructure spending, buoyant credit growth, and strong customer demand, real GDP is estimated to have grown by 5.6 percent in 2015. As per the staff's assessment based on recent data, performance under the current program remains broadly satisfactory. Staff fully supports the authorities' request for extensions of the arrangements through March 15, 2016.

Subject: Balance of payments, Balance of payments need, Capital budget, Credit, Government debt management, Money, Public financial management (PFM), Treasury Single Account

Keywords: Balance of payments need, Capital budget, CR, Credit, End-September performance criteria, Extensions of the Stand-By Arrangement, Government debt management, IMF's executive board, ISCR, Kenya's Stand-By Arrangement, Precautionary SBA, SBA arrangement, SDR, Stand-By Arrangement, Treasury Single Account

Publication Details

Pages:

5
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/032
Stock No:

1KENEA2016001
ISBN:

9781498319942
ISSN:

1934-7685

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