These three conditions, known as structural benchmarks, include implementation of national tax policy, scrapping fuel subsidies and a push for Kenya Power to fully bridge its fiscal gap by 2023.
These are fresh conditions added to the 38-month $2.34bn (KSh276bn) loan deal Kenya signed in April 2021 under the special drawing rights (SDR) that is currently being settles in tranches and will spill over to the next administration.
The Kenyan authorities requested the “establishment of new quantitative performance criteria for relevant indicators for June 2023 and the establishment of three new SBs (Structural Benchmarks) related to issuance of a national treasury circular presenting an action plan for development,” said the IMF’s deputy managing director Antoinette Sayeh after approving an additional $235.6m loan to Kenya last month.
However, the demands will make things more difficult for
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