Manipulated forex: Lenders slow to loosen purse strings to enable Kenya to secure new IMF programme
Kenya will issue a securitised bond this month to raise 175 billion shillings ($1.36 billion) for road building, Mbadi said. It will be backed by a roads maintenance levy charged to motorists for fuel.
Activists accuse IMF of propping Kenya’s ‘borrowing and spending decisions used to sustain political patronage’
They urged the IMF and the World Bank to incorporate demands for better governance in Kenya, not just focus on economic targets, in their assistance programmes.
