Kenya: First Review Under the Twenty-Four Month Stand-By Arrangement and the Arrangement Under the Standby Credit Facility and Requests for Waivers of Applicability, Rephasing of Disbursements, and Modification of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Kenya
February 2, 2017
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This paper discusses Kenya’s First Reviews Under the Twenty-Four Month Stand-by Arrangement (SBA) and the Arrangement Under the Standby Credit Facility and Requests for Waivers of Applicability, Rephasing of Disbursements, and Modification of Performance Criterion (PC). Macroeconomic developments have been broadly in line with the program, including strong growth and lower current account deficits. On fiscal policy, revenue shortfalls in FY2015/16 were more than offset by under-execution of public investment. The IMF staff recommends completion of the first reviews and supports the authorities’ requests for waivers of applicability for SBA for end-December 2016 PC, rephasing of disbursements, and modification of PC.
Subject: Banking, Credit, Debt sustainability analysis, External debt, Interest rate policy, Monetary policy, Money, Public debt
Keywords: banking sector profitability, budget balance, Center inflation target, central bank of Kenya, contained inflation, CR, Credit, debt, Debt sustainability analysis, deficit, Global, Interest rate policy, ISCR, payment obligation
Pages:
82
Volume:
2017
DOI:
Issue:
025
Series:
Country Report No. 2017/025
Stock No:
1KENEA2017001
ISBN:
9781475573152
ISSN:
1934-7685
