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Kenya: Request for a Three-Year Arrangement under the Poverty Reduction and Growth Facility

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  • International Monetary Fund

Abstract

Kenya showed poor implementation of policies and weak economic performance under the Poverty Reduction and Growth Facility (PRGF) arrangement. The government formulated a new Economic Recovery Strategy for Wealth and Employment Creation (ERSWEC) aimed to address major macroeconomic vulnerabilities. Executive Directors emphasized the need for domestic debt reduction, the restructuring of spending, and a sustained implementation of the reform agenda. They suggested that bold reforms will be essential to encourage private investment and to mobilize adequate donor support for the reforms.

Suggested Citation

  • International Monetary Fund, 2004. "Kenya: Request for a Three-Year Arrangement under the Poverty Reduction and Growth Facility," IMF Staff Country Reports 2003/399, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2003/399
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