IMF Sticks to Conditions on Loan to KenyaThe International Monetary Fund£¨IMF£© will not soften its lending conditions to Kenya despite meetings between its top executives with Kenyan President Daniel arap Moi two month ago.The East African newspaper reported on Monday that the IMF board has decided to insist on the fulfillment of all the conditions it set in July last year before the resumed disbursement of about 150 million U.S. dollars by the bank. The remaining disbursement is part of a 198-million-dollar poverty reduction and growth facility negotiated last year. The IMF suspended the loan last December on ground of the government's failure to take key reform steps, including the reconstitution of the Kenya Anti-Corruption Authority £¨Kaca£© and speedy privatization of the Telkom Kenya, the state-owned telecommunications company. |
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