Kenya is expected to dethrone Ethiopia as the region’s largest economy after Addis Ababa devalued its currency, Birr, as part of the conditions to secure financing from the International Monetary Fund (IMF).
In its latest World Economic Outlook, the IMF estimates that Kenya’s gross domestic product (GDP) will expand to $131.673 billion (Sh17.04 trillion) by the end of this year even as that of Ethiopia shrinks to $117.457 billion (Sh15.2 trillion), reflecting the weakening of Addis Ababa’s exchange rate.
