The country has been hit hard by financial constraints since Jubilee Party took over the power. President Uhuru has borrowed foreign loans from Western Nations such as China, United States of America USA and France to continue with development projects in the country to see that the government's big four agenda are accomplished.
Kenya has gone a step ahead to borrow Ksh262.7 billion from the world's financial institution known as International Monetary Fund (IMF). The government took this step to borrow the loan as one of the countries hit hard by the Covid-19 pandemic.IMF officials conducted an auditing between December 9th-17th last year and February 15th this year.
Yesterday, the government officials led by National Treasury Cabinet Secretary Ukur Yatani, Governor Patrick Njoroge of Central Bank of Kenya (CBK) and Head of Public Service Dr. Joseph Kinywa met the IMF officials in signing an agreement where Kenya will receive the emergency loan of Ksh 262.7 billion for the next 38 months.
In conclusion, the amount borrowed by the government from IMF will be used for 2020-2021 and 2022-2023 financial years. In conclusion, the source of this information is from Radio Citizen and the news reporter is Josephat Odipo. The news are dated today 16/2/21 at 6:00 am.
Content created and supplied by: Felixotoro (via Opera News )