Kenya Negotiates $1.1 Billion in Financial Support from Bretton Woods Institutions
Tuesday, 24 March 2020 15:19
Kenya is seeking $1.1 billion from Bretton Woods institutions amid the current pandemic, according to information provided by Bloomberg.
The country is negotiating $750 million in budget support from the World Bank and $350 million in emergency assistance from the International Monetary Fund (IMF). As a reminder, the World Bank recently announced the disbursement of more than $60 million to support the Kenyan government's efforts to combat covid-19.
Sixteen (16) cases of contamination have been confirmed in the country, leading to restrictive measures across the territory.
For 2020, the Central Bank is forecasting growth of 3.4%, down from the 6.2% initially forecasted. A revision due to the envisaged impact of covid-19 on the country's agricultural exports and tourism.
Moutiou Adjibi Nourou
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