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Topic

Kenya's economy

Kenya central bank holds rates for eighth time in a row

Kenya central bank holds rates for eighth time in a row

Published 26 May, 2021 08:26pm
  • The decision is the eighth consecutive hold by policymakers and it was in line with the consensus forecast in a Reuters poll of nine economists and market participants.
  • The rate of inflation stood at 5.8% in April, well within the government's preferred band of 2.5%-7.5%.
Kenya central bank says has space to cut rates, urges more measures

Kenya central bank says has space to cut rates, urges more measures

Published 30 Mar, 2021 07:07pm
  • Policymakers held the benchmark rate at 7.0% for the seventh time in a row on Monday, saying that a package of measures rolled out since last year had protected the economy from substantial decline.
  • "We expect that programme will be discussed by the IMF on Friday, April 2," he said.
Kenya central bank holds benchmark lending rate at 7.0pc

Kenya central bank holds benchmark lending rate at 7.0pc

Published 29 Mar, 2021 09:05pm
  • The interventions have also "supported the most vulnerable citizens", the central bank's monetary policy committee said in a statement.
  • The government has said it expects economic growth to rebound this year after it slid to an estimated 0.6% last year.
Kenya's president orders new lockdown to battle COVID-19 wave

Kenya's president orders new lockdown to battle COVID-19 wave

Published 26 Mar, 2021 07:57pm
  • In a televised address, Kenyatta said a wave of new lockdown measures including a stricter curfew and the closure of bars in the capital were essential to fight the pandemic.
  • The curbs come one week ahead of the Easter holiday, when many Nairobi residents travel to other parts of the country.
Kenya's 2021/22 budget deficit target must not exceed 7.5% of GDP

Kenya's 2021/22 budget deficit target must not exceed 7.5% of GDP

Published 04 Mar, 2021 06:07pm
  • It also recommended that the finance ministry restructure some state-owned companies, especially highly indebted ones, with the aim of privatising some of them by the end of 2021/22.
  • The committee urges the National Treasury to commit to strict adherence ... in order to avoid expanding the deficit while at the same time protecting the key growth sectors.
Kenya has to raise its debt ceiling, finance ministry says

Kenya has to raise its debt ceiling, finance ministry says

Published 12 Feb, 2021 06:29pm
  • Total debt stood at 7.3 trillion shillings at the end of last year, equivalent to 65.6% of GDP.
  • To accommodate the fiscal deficits in the financial year 2021/22 (July-June) and into the medium term, the statutory debt limit has to be expanded.
Kenya's economy shrinks in Q3 2020 as COVID hits tourism

Kenya's economy shrinks in Q3 2020 as COVID hits tourism

Published 28 Jan, 2021 07:21pm
  • The sector includes tourism, which has been greatly affected by a drop in visitor arrivals due to COVID-19 restrictions.
  • In early December, the tourism ministry said the sector had lost 110 billion Kenyan shillings ($999.55 million) in revenue between January and October.
Kenya's remittance inflows jump by nearly 11pc in 2020 to $3bn

Kenya's remittance inflows jump by nearly 11pc in 2020 to $3bn

Published 15 Jan, 2021 06:01pm
  • In Kenya, remittance inflows were strongly buoyant in 2020, despite the devastation by COVID-19 (coronavirus) in the source countries.
  • This remarkable growth of remittances has been supported by financial innovations that provided Kenyans in the diaspora more convenient channels for their transactions.
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