Kenya will not sign a Sh150 billion International Monetary Fund (IMF) insurance loan intended to cushion the shilling from external economic shocks as long as it is tied to stringent conditions such as the removal of bank interest rates cap, an adviser to President Uhuru Kenyatta has said.
Mbui Wagacha, an economist and adviser in the executive office of the presidency, termed the IMF’s recommendations on Kenya’s economic policies as being out of touch with local reality.
