IMF Staff Country Reports

Kenya: Request for a Three-Year Arrangement under the Poverty Reduction and Growth Facility

Publication Date:

January 8, 2004

Electronic Access:

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Summary:

Kenya showed poor implementation of policies and weak economic performance under the Poverty Reduction and Growth Facility (PRGF) arrangement. The government formulated a new Economic Recovery Strategy for Wealth and Employment Creation (ERSWEC) aimed to address major macroeconomic vulnerabilities. Executive Directors emphasized the need for domestic debt reduction, the restructuring of spending, and a sustained implementation of the reform agenda. They suggested that bold reforms will be essential to encourage private investment and to mobilize adequate donor support for the reforms.

Series:

Country Report No. 2003/399

Subject:

Banking Expenditure External debt Imports International trade Poverty Poverty reduction strategy Public debt