Kenya’s Forex reserves got a boost following receipt of Ksh78 billion ($739 million) from the IMF drawn under the Rapid Credit Facility (RCF). The funds are meant to help Kenya meet its balance of payments needs. READ MORE..
As the COVID19 dust settles down, the real impact on SMEs in Kenya is becoming evident with massive layoffs across the board and business closure. On Friday’s #CEOChat online forum, Jeremy Awori, Absa Kenya CEO, expounded on ways that the banking sector is supporting SMEs affected by the COVID19 disruption. My Chat with a Bank CEO is a forum by Kenya Bankers Association where Bank CEOs engage social media users on topical issues.
The International Monetary Fund(IMF) has raised Kenya’s risk of debt distress to high from moderate in a recent assessment.
Kenya’s debt stood at 61.7% of GDP at the end of 2019, up from 50.2% at the end of 2015, the IMF said, driven up by gaping budget deficits. The country embarked on large infrastructure projects such as the new Standard Gauge Railway line which relied on external debt. READ MORE..
