Kenya: 2004 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, and Requests for Augmentation of Access, Rephasing of the Arrangement, and Waiver of Performance Criteria: Staff Report; Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kenya

International Monetary Fund

No 2009/225, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2004 Article IV Consultation highlights that monetary policy of Kenya has been expansionary since 2003/04 to promote economic growth. This has, however, contributed to the recent rise in inflation. Executive Directors have observed the progress that has been made under the Poverty Reduction and Growth Facility (PRGF)-supported program, which has contributed to a rebound in economic growth and arrested the rise in domestic debt. However, Directors have noted that Kenya faces serious challenges. In particular, growth remains too slow for making inroads into poverty, and governance remains a critical concern.

Keywords: ISCR; CR; PRGF; disbursement Kenya; PRGF loan; government; staff appraisal; supervisory authority; PRGF arrangement; Poverty reduction strategy; Poverty reduction; Loans; Southern Africa; Africa; Sub-Saharan Africa; East Africa (search for similar items in EconPapers)
Pages: 105
Date: 2009-07-29
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