Kenya is asking for spending cap waivers from the International Monetary Fund (IMF) to use the Sh14.6 billion World Bank vaccine loan without breaching the deficit agreed with the multilateral lender.
Kenya’s fiscal deficit averaged 7.6 percent between June 2013 and June 2020 against a target of 4.0 percent but now the IMF has put stiff targets including the amount Kenya can borrow to finance the gap under the 38-month programme.
