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Kenyans to feel pinch as Treasury implements IMF’s ‘painful’ reforms
Joy Kenya and Kenya Mpya Sacco buses parked on Mfangano street in Nairobi on August 7. Matatu Welfare Association chairman Dickson Mbugua said operators would not bear the burden of higher fuel prices. FILE PHOTO | NMG
Kenyan households face a further squeeze on their finances as Treasury moves to fully implement the International Monetary Fund (IMF)’s financial assistance programme and undertake ‘painful reforms’ such as hiking energy prices and removing interest rate caps.
The IMF completed reviewing the performance of its Sh150 billion forex insurance programme with Kenya a week ago ahead of expiry in September, piling pressure on Treasury to fast-track its prescription of bitter pills to bolster revenue generation.
