IMF officials visit Kenya on fact-finding mission

In a press briefing, Julie Kozack, Director of the IMF Communications Department explained that the government is facing a tough balancing act in funding critical areas such as health and education while at the same time managing the rising public debt. 

She noted that the IMF officials will be engaging with President William Ruto's administration to review the current economic challenges and review the Extended Fund Facility (EFF)/ Extended Credit Facility (ECF) arrangements program.

The goal of the program is to assist the Kenyan government establish macroeconomic policies that will enable sustainable growth across various sectors and furthermore create job opportunities. 

Kozack, however, noted that the public should be involved during the formulation of such policies to gain a massive appeal.  

"The program includes initiatives to improve governance and transparency and to ensure the proper use, to ensure the responsible use of public funds. But it is also important that these policies go through a process of broad consultation so that they can gain the necessary public support," she noted. 

"And we're currently working with the authorities to ensure that the objectives of the program can be met."

Without revealing further details, Kozack promised more updates once the officials conclude the visit. 

This comes as IMF recently approved a loan to the Kenyan government worth Ksh.126 billion, with an immediate disbursement of Ksh.80 billion.

According to the agency, Kenya's economic growth is projected to rise despite increasing external and domestic challenges. 

On the other hand, critics have accused IMF of interfering with Kenya's matters by introducing harsh policies that often push a country to its knees.