NAIROBI (Reuters) – Kenya has submitted an economic recovery plan to the International Monetary Fund (IMF) and is expected to have the fund’s board review the plan for approval at a meeting in late August, the country’s governor said.
Kenya was forced to draft new spending cuts after at least 50 people were killed in mass youth protests against tax hikes previously pushed by President William Ruto.
“The finance ministry has been working very closely with the International Monetary Fund (IMF) through the challenges we face,” Governor Musalia Mudavadi said in a speech to the parliamentary budget committee on Tuesday, seen by Reuters.
He said the government had submitted its economic policy and program plan to the IMF, which would be reviewed by the IMF’s executive board at the end of August.
“It is our hope and wish that Kenya’s proposal will receive favourable consideration so that we can overcome the difficulties we face,” Mudavadi told the delegation.
