Kenya: Third Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria: Staff Report; Press Release
Volume/Issue:
Volume 2012
Issue 097
Publication date: April 2012
ISBN: 9781475503012
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Topics covered in this book
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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , disbursement of SDR , ECF arrangement , SDR , earnings , IMF's executive board , core inflation , balance of payments , Fiscal stance , Credit , Loans , Global , Africa
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Summary
This paper describes Kenya’s third review under the three-year arrangement under the Extended Credit Facility (ECF) and request for modification of performance criteria. The Executive Board approved a three-year ECF arrangement for Kenya on January 31, 2011, which has been augmented on December 9, 2011 for a total of SDR 488.520 million. The authorities’ primary fiscal balance outcome was in line with the program and consistent with a decline in the government debt-to-GDP ratio. Implementation of structural benchmarks has overall proceeded as expected.
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