Sovereign Analysis /
Kenya

Kenya: First IMF review points to positive reform momentum

  • The IMF reached a staff-level agreement on the first EFF/ECF review, with Board approval expected in the coming weeks

  • IMF backstop raises likelihood that ambitious fiscal targets are met and debt is set on sustainable trajectory

  • But room for slippage is limited, and Kenya has a history of missed targets; retain Hold on Kenyan eurobonds

Kenya: First IMF review points to positive reform momentum
Patrick Curran
Tellimer Research
20 May 2021
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