[Washington Onyango, Standard]The International Monetary Fund (IMF) has revised its growth outlook for Kenya’s economy this year downwards to 6.3 per cent citing the continued ravages of the Covid-19 pandemic. The IMF team which met senior Treasury and Central Bank of Kenya officials was led by Mary Goodman. Following the meeting, the IMF staff and the Kenyan authorities reached an agreement - setting the stage for the country to receive its second installment of Sh43.9 billion. Last year, the economy is estimated to have grown by less than one per cent with Treasury putting it at 0.6 per cent. “They will shortly publish an audit of all Covid-19 related expenditures in financial year2019/2020,” said the IMF in a press release.

Source: Standard Digital May 18, 2021 21:00 UTC