COVID-19 exposed Kenya’s debt vulnerability though measures helped – IMF

COVID-19 has exposed Kenya’s debt vulnerabilities though official measures including monetary policy easing have helped shield the economy from the impact of the pandemic, the International Monetary Fund (IMF) said late on Friday. The Fund said it hoped a deal on a new lending facility for Kenya could be presented to its board in early 2021, noting that economic activity in the East African country was starting to pick up despite a drag from sectors such as tourism. “Kenya’s development goals have nonetheless suffered a significant setback… the (COVID-19) shock has also crystallized debt-related vulnerabilities and exposed weaknesses in some state-owned enterprises,” it added.

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