Kenya needs a much larger economic stimulus package

The Central Bank of Kenya. FILE PHOTO | NMG

Covid-19 — a global public healthcare crisis — has metamorphosed into a bitter economic cocktail: massive government budget holes, sky-high unemployment, the economy frozen, idle workers receiving payments from the government.

For a number of economies, as commerce remains frozen, it is no longer business-as-usual; something which has prompted extra-ordinary responses. Governments on both sides of the Atlantic have been forced to scramble emergency measures to keep supply and demand from collapsing. In Africa, a number of countries, from Algeria, Egypt, Angola to South Africa, have scrambled economic responses to limit the human and economic impact of the Covid-19 pandemic. And Kenya has not been left out.

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