• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Lagarde: Kenya on Africa's economic frontline

Jan 03 2014 18:00

(Shutterstock)

Related Articles

Lagarde warns against US spending cuts

IMF to help fast track Zim progress

Lagarde: Global economy still subdued

IMF chief faces grilling in graft probe

Minister vows to revive Cypriot economy

Malawi hits back at Western donors over aid freeze

 
Washington - International Monetary Fund Managing Director Christine Lagarde is set to visit Kenya from 5 - 8 January, a month after the final disbursement of a three-year $750m support loan for the country.

Lagarde will hold talks with President Uhuru Kenyatta and other political and society leaders.

The IMF has dubbed Kenya one of the continent's "frontier" economies, a low-income country that has been growing strongly for several years and is headed toward the more sustained "emerging market" stage.

The loan programme  had backed major restructuring of economic policies and strengthening of the government's financial position.

Moving forward

Lagarde said in a statement: "I'm very much looking forward to my visit to underline the fund's strong partnership with Kenya, one of the most dynamic economies in a region that has been a bright spot in the global economy.

"Kenya has emerged as one of Africa's 'frontier economies' and I'm very interested in learning how the country's leaders and people will build on this success moving forward."

The IMF's most recent projections forecast the country growing 6.2% in 2014, an increase from 5.9% in 2013 and 4.6% the year earlier.

The Fund praised the government's "strong commitment to fiscal discipline" in a statement on 2 December, marking the final disbursement of the loan.
"The external and fiscal positions are now stronger, high inflation has been tamed and the economy's resilience to shocks has been boosted.

"Improved policies have placed Kenya in a good position to tap the international financial markets."

However, it noted continued risks to the economy, urging continued work with the IMF to help manage the risks.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

christine lagarde  |  kenya  |  us  |  economy

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
11 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...