IMF May Resume Lending to Kenya in July: IMF Official

Home>>World

Last updated at: (Beijing Time) Saturday, January 18, 2003

IMF May Resume Lending to Kenya in July: IMF Official

The International Monetary Fund (IMF) announced here Friday that it may resume lending to Kenya in July after more than two years of suspension of financial support to the east African country.

DISCUSSION

CHINESE

SEND TO FRIEND

The International Monetary Fund (IMF) announced here Friday that it may resume lending to Kenya in July after more than two years of suspension of financial support to the east African country.

Speaking at a press conference in Nairobi at the end of a three-day visit, IMF African Department Director Abdoulaye Bio-Tchane said the lending may be resumed depending on whether the Kenyan government fulfills anti-corruption pledges it made to the IMF.

He also announced that the IMF is ready to provide the Kenyan government with the technical assistance that may be necessary before the resumption of the lending.

An IMF team is expected back in the country in the second half of next month for consultations on the new government's policies, programs, the plan for their implementation and the overall medium term fiscal and budgetary strategy, Bio-Tchane said.

He did not indicate how much the IMF would disburse when lending resumes in July, but said that some 200 million US dollars from the previous program is still available.

"Discussions on a new program will begin in April or May on the understanding that the agreed prior actions would have been completed," Bio-Tchane said.

The IMF official welcomed the public commitment of the National Rainbow Coalition government led by President Mwai Kibaki to tackling corruption and strengthening governance, and noted that this is to be given top priority.

The IMF suspended loans and grants to Kenya in late 2000 citing reluctance by the previous regime to institute measures to fight corruption.

The Kibaki administration on Wednesday published two crucial bills on anti-corruption in accordance with its campaign promise to declare war on corruption in the country.

One of them, the Anti-Corruption and Economic Crimes Bill, seeks to provide a constitutional provision for the establishment of the Kenya Anti-Corruption Commission, which will be charged with the duties of investigating and prosecuting corruption offences and economic crimes by public officials.

The other bill, the Code of Conduct for Public Servants, will provide for the establishment and enforcement of the Codes of Conduct and Ethics for persons holding public office and also ensure that officials periodically declare their income, assets and liabilities.

Questions?Comments? Click here

Jiang, Bush Talk over Phone on DPRK Nuclear Issue ( 9 Messages)

China Indignant over PM Koizumi's Shrine Visit ( 7 Messages)

Thousands Protest in Los Angeles against US War against Iraq ( 2 Messages)

China's Vehicle Output Ranks World Fifth ( 2 Messages)

Reflector Installed on 'Shenzhou IV', Measurement Accuracy Greatly Raised ( 2 Messages)