Kenya’s economy withstands headwinds

The International Monetary Fund (IMF) said Kenya’s economic performance had remained satisfactory despite headwinds from rising volatility in global markets and domestic security challenges.
IMF said its executive board had also approved additional funds to bring cumulative amount available under a Stand-by Arrangement and a Stand-by Credit arrangement to US$610.7 million to help cushion Kenya against external shocks.
“Real GDP growth has been robust, and, notwithstanding the recent shilling depreciation, inflation has remained within the authorities’ target range. External buffers to date have remained adequate,” IMF deputy MD Min Zhu said in a statement received on Thursday after IMF had completed its first review of Kenya’s US$688 million precautionary credit arrangement.The International Monetary Fund (IMF) said Kenya’s economic performance had remained satisfactory despite headwinds from rising volatility in global markets and domestic security challenges.
IMF said its executive board had also approved additional funds to bring cumulative amount available under a Stand-by Arrangement and a Stand-by Credit arrangement to US$610.7 million to help cushion Kenya against external shocks.
“Real GDP growth has been robust, and, notwithstanding the recent shilling depreciation, inflation has remained within the authorities’ target range. External buffers to date have remained adequate,” IMF deputy MD Min Zhu said in a statement received on Thursday after IMF had completed its first review of Kenya’s US$688 million precautionary credit arrangement.