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

International Monetary Fund

No 2003/399, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; PRGF loan; strategy; PRGF-supported program; government; outlay; priority poverty reduction outlay; Kenyan authorities; ERSWEC programme; Poverty reduction strategy; Imports; Africa; Sub-Saharan Africa; Global (search for similar items in EconPapers)
Pages: 92
Date: 2004-01-08
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