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Publication Date:
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February 05, 2015
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Electronic Access:
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Free Full text
(PDF file size is 2,648KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Summary:
Following the approval of a new constitution in 2010, the authorities have embarked on important reforms including fiscal devolution, VAT reform, and the overhaul of the expenditure management framework. Supported by a three-year ECF, which expired in December 2013 with all six reviews completed, Kenya has consolidated macroeconomic stability. Growth has been robust, inflation contained, debt remained sustainable and reserve buffers increased (Tables 1a and 1b and Figures 1 and 2). This progress in a market-friendly environment has continued to attract the interest of foreign investors. As a result, Kenya is recognized as a frontier market increasingly integrated in global financial markets. A Eurobond debut issue of US$2 billion (the largest in SSA so far) took place successfully in June followed by a $750 million re-tap in December.
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Order a print copy
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Series:
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Country Report No. 15/31
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Subject(s):
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Standby Credit Facility | Fiscal policy | Financial management | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Letters of Intent | Press releases | Stand-by arrangement requests | Kenya
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English
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Publication Date:
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February 05, 2015
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ISBN/ISSN:
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9781484355237/1934-7685
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Format:
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Paper
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Stock No:
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1KENEA2015001
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Pages:
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93
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Price:
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Please address any questions about this title to
publications@imf.org
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