Kenya : Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for a Waiver and Modification of Performance Criteria—Staff Report; Staff Supplement; and Press Release.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. African Department.

Contributor:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2013/107

IMF Staff Country Reports

Language:

English

Subjects (All):

Monetary policy--Kenya.

Monetary policy.

Kenya--Economic conditions.

Kenya.

Physical Description:

1 online resource (68 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2013.

Language Note:

English

Summary:

Economic activity in Kenya has remained resilient to uncertainty surrounding the elections, the impact of the European crisis, and security-related concerns. Fiscal policy is in line with the program despite difficulties. International reserves are on the rise, and the deficit of the external current account has shrunk significantly. Key structural reforms to strengthen the institutional framework are under way. A peaceful political transition, strengthened macroeconomic conditions, and structural reforms could unleash Kenya’s growth potential, attract foreign investment, and lay the basis for transforming the country into an emerging-market economy.

Contents:

Cover; CONTENTS; MACROECONOMIC OUTLOOK AND PROGRAM PERFORMANCE; BOXES; 1. New Sources of Wealth in Kenya: Oil and Coal; FIGURES; 1. Fiscal Developments; 2. Macroeconomic Developments; 3. External Developments; 2. Does the Sharp Decline in Credit Growth Signal Excessive Monetary Tightening?; POLICY DISCUSSIONS AND RISKS; A. Maintaining Fiscal Discipline during the Political Transition; B. Easing Monetary Policy with Caution; 3. Kenya's Mobile Banking Revolution; C. Assessing the Risk Outlook; 4. Risk Assessment Matrix; PROGRAM ISSUES; 5. Structural Reform Measures 2010-2013; STAFF APPRAISAL

TABLES1. Selected Economic Indicators, 2010/11-2015/16; 2a. Central Government Financial Operations 2010/11-2015/16; 2b. Central Government Financial Operations 2010/11-2015/16; 3. Monetary Survey 2010-2013; 4. Balance of Payments 2010/11-2015/16; 5. Financial Soundness Indicators of the Banking Sector 2010-2012; 6. Performance Criteria for the Fifth Review Under the 2011-14 ECF Arrangement; 7. Proposed Timing of Disbursements and Reviews Under the 2011-14 ECF Arrangement; APPENDIX; Letter of Intent; Attachment: Updated Technical Memorandum of Understanding

Notes:

Description based upon print version of record.

Description based on print version record.

ISBN:

9781484392225

1484392221

9781484327340

1484327349

9781484362129

1484362128