Bloomberg News

IMF Says Kenya’s Economic Reform Program “Off to a Good Start"

June 30, 2011

June 30 (Bloomberg) -- The International Monetary Fund said Kenya’s economic reform program is “off to a good start,” and noted that inflation pressures have emerged.

“Strong growth continues in 2011, with the exception of the agricultural sector, expected to decelerate significantly as a result of weather disturbances in the first months of the year,” the IMF said in a statement. “Inflationary pressures have emerged as a result of the global increase in food and fuel prices, insufficient rains, and growing domestic demand.”

The fund completed the first review under a three-year arrangement under the Extended Credit Facility for Kenya. The completion of the review enables the disbursement of about $65 million, the IMF said.

To contact the editor responsible for this story: Victoria Batchelor at vbatchelor@bloomberg.net


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