IMF Chief Calls Kenya ‘Innocent Bystander’ in World’s Debt Shock
- Nation’s ability to meet debt obligations has been in focus
- IMF says government determined to improve fiscal position
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The International Monetary Fund’s chief capped a visit to Kenya with an enthusiastic endorsement of its economic management and expressed confidence that the cash-strapped nation would keep servicing its debts.
Kristalina Georgieva said that in the IMF’s assessment, Kenya’s debt is sustainable and the administration of President William Ruto is moving swiftly to improve its fiscal position. The remarks come at a sensitive time for the East African nation, with some investors dumping its bonds and questioning its ability to make a $2 billion payment next year.