Tuesday, April 23, 2024

IMF approves Sh.28billion loan, urges government to maintain proper tax collection system

The International Monetary Fund (IMF) has approved the release of a Sh.28 billion loan to Kenya.

The new loan is part of the three-year budget support program has moved the disbursements by the multi-lateral lender to Sh.143 billion.

According to IMF Kenya was keeping up with the program’s structural reform requirements.

Kenya’s structural reform agenda, focused on improving governance, has advanced despite some delays

IMF

Notable Delays

The institution however noted a delay despite notable delays in execution.

“Kenya’s structural reform agenda, focused on improving governance, has advanced despite some delays,” read the statement from IMF in part.

“Oversight of State-owned enterprises (SOEs) is being reinforced. New tender documents will allow achieving the long-standing goal of publishing beneficial ownership information of successful bidders for public procurements,” it furthered.

The institution further noted that inflation is expected to stay above the 7.5 per cent government target up to the end of 2023.

IMF further advised the government to maintain a strong performance in tax collection for the 2021-2022 to regulate the products of essential commodities.

Austine Ogalohttp://www.lakeregionbulletin.co.ke
Lake Region Bulletin is your one stop multi-media platform for news and stories from the Lake Region counties of Kisumu, Siaya, Homabay ,Migori, Siaya, Kissi,Nyamira, Vihiga, Kakamega, Busia, Bungoma, Trans Nzoia, Nandi, Kericho and Bomet email:ogalo@lakeregionbulletin.co.ke austineogalo02@gmail.com

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