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Athi-Galana-Sabaki River, Kenya

Athi-Galana-Sabaki River, Kenya (Picture by Elido Turco, Italy)

Kenya Resident Representative Site

Resident Representative Office in Kenya

This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Kenya and the IMF. Additional information can be found on Kenya and IMF country page, including official IMF reports and Executive Board documents in English that deal with Kenya.

News and Highlights

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Carnations, Coffee And Denim: A Look At Kenya's Top 10 Exports

Published on July 24, 2015, NPR click for more

Sub-Saharan Africa IMF Regional Economic Launch

Norfolk Hotel, Nairobi, Kenya, May 18, 2015 click for more

Kenya’s economic growth to hit 7pc on the back of foreign investments

Daily Nation, May 18, 2015 click for more

Changes in the Financial Landscape: Role of monetary policy and monetary operation frameworks in Africa

Presentation by Armando Morales, IMF Resident Representative in Kenya, presented at the Continental Seminar of the Association of African Central Banks. Nairobi, May 13, 2015 click for more

Kenya shilling 5-10 pct overvalued, no policy shift needed: IMF

Reuters Africa click for more

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Kenya and The IMF

Monitoring and Managing Fiscal Risks in the East African Community

August 13, 2015
Author/Editor: Paolo Mauro ; Herve Joly ; Ari Aisen ; C. Emre Alper ; Francois Boutin-Dufresne ; Jemma Dridi ; Nikoloz Gigineishvili ; Tom Josephs ; Clara Mira ; Vimal V Thakoor ; Alun H. Thomas ; Fan Yang
Series: African Departmental Paper No. 15/7
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Toward a Monetary Union in the East African Community : Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms

July 20, 2015
Author/Editor: Paulo Drummond ; Ari Aisen ; C. Emre Alper ; Ejona Fuli ; Sébastien Walker
Series: African Departmental Paper No. 15/6
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Press Release: IMF Staff Completes Review Mission to Kenya

June 4, 2015

Are African Households Heterogeneous Agents? : Stylized Facts on Patterns of Consumption, Employment, Income and Earnings for Macroeconomic Modelers

May 6, 2015
Author/Editor: Louise Fox
Series: Working Paper No. 15/102
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Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries? : Evidence from a Panel of Countries

April 28, 2015
Author/Editor: Munseob Lee ; Cheikh A. Gueye
Series: Working Paper No.15/83
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Regional Economic Outlook for Sub-Saharan Africa

image from the publication cover

Sub-Saharan Africa's economy is set to register another year of solid growth, although the expansion will be at the lower end of the range registered in recent years, mainly reflecting the severe impact of the sharp decline in oil prices on the region's oil exporters. In a context of tightening global financial conditions, the large fiscal and current account deficits that prevail in some countries could leave them vulnerable to a potential reduction in external financing. An uneven global recovery and domestic security-related challenges are also risks to the outlook. Against this backdrop, and beyond the immediate effects of the current shock, further progress toward diversification and structural transformation remains crucial to sustain high and inclusive growth, generate jobs for the rapidly growing young population, and foster integration into global value chains. Click for more



Toward a Monetary Union in the East African Community

Building Resilience in Sub-Saharan Africa's Fragile States

In late 2013 the East African Community (EAC) countries (Burundi, Kenya, Rwanda, Tanzania, and Uganda) signed a joint protocol setting out the process and convergence criteria for an EAC monetary union. The signing of the protocol represents a further step toward regional economic integration. It follows ratification of the protocols for a customs union (2005) and the common market (2010). Envisaged in 2024 is the introduction of a common currency to replace the national currencies of member countries.



Building Resilience in Sub-Saharan Africa's Fragile States

Building Resilience in Sub-Saharan Africa's Fragile States

Fragile states—states in which the government is unable to deliver basic services and security to the population—face severe and entrenched obstacles to economic and human development. While definitions of fragility and country circumstances differ, fragile states generally have a combination of weak and non-inclusive institutions, poor governance, low capacity, and constraints in pursuing a common national interest. As a result, these countries typically display an elevated risk of both political instability (including civil conflict), and economic instability (through a low level of public service provision, inadequate economic management, and difficulties to absorb or respond to shocks). Crises in such countries can also have significant adverse spillovers on other countries. In contrast, resilience can be defined as a condition where institutional strength, capacity, and social cohesion are sufficiently strong for the state to promote security and development and to respond effectively to shocks.

Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight

Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight

Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.



IMF Opens Africa Training Institute in Mauritius

Africa Training Institute (ATI) Logo

The International Monetary Fund (IMF) on June 26, 2014 opened the Africa Training Institute (ATI) in Ebene, Mauritius, adding an important regional center to a global network of centers helping to develop countries' policymaking capacity by transferring economic skills and best practices.