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Kenyans Reaction After IMF Woos Ruto To Take First Loan As President

Should Kenya government of President William Ruto require further loans the International Monetary Fund (IMF) has stated that it is willing to do so.

Abebe Selassie director of the IMF African department revealed to the media on October 14 that the organization aimed to assist governments that were having trouble obtaining funding from other financial organizations.

IMF did however, say that it will keep collaborating with Kenya to carry out economic reforms.

We need to use our revolving resources to assist nations starting with those in better circumstances and working our way down to those in poorer ones.

When access to money is more difficult in other places offering financial support is the best assistance we can give nations like Kenya. We will of course consider more financing if necessary the representative said.

The international institution underlined that Ruto had not yet requested any credit relief in response to the question of whether IMF would grant Kenya relief for its outstanding debt.

This was in response to Ruto proposal that lenders provide Kenya and other nations with assistance through modified repayment plans and other options.

He said I think it's really important for me to stress here that the IMF is equivalent to a lender of last [resort] to governments. We have not had such a request from the Government of Kenya.

Content created and supplied by: Rajo (via Opera News )

Abebe Selassie IMF International William Ruto Woos Ruto


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