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RECOVERY PLAN

Kenya seeking debt suspension in wake of Covid-19 - Uhuru

In Summary

• Uhuru said that the government is also in talks with other countries to postpone loan payments.

President Uhuru Kenyatta during his national address on coronavirus at State House on Monday, April 7, 2020
President Uhuru Kenyatta during his national address on coronavirus at State House on Monday, April 7, 2020
Image: PSCU

President Uhuru Kenyatta has said his administration is working on a plan to revive the economy once the coronavirus pandemic is over.

Speaking from State House Nairobi on Thursday, the head of state said that the economies of many countries have been affected by the virus.

Uhuru said that the government is also in talks with other countries to postpone loan payments.

"The largest economies in the world are in discussions with ourselves on the issue of suspension of debts," he said.

The President said that suspending debts for a certain period will allow affected countries to deal with the pandemic as well as plan for recovery.

"We are working towards formulating Kenya's post-Covid-19 economic recovery plan," Uhuru said.

He said the government will engage all the stakeholders to re-engineer the existing  economic plans and policies in line with the crisis.

At the same time, the President said that financial institutions such as the African Development Bank have created emergency credit facilities to countries like Kenya.

"We will utilise these facilities to support producers so that they can return to full production and protect the jobs and livelihoods," Uhuru said.

He also urged Parliament to consider the proposals before the house to help cushion Kenyans.

The President urged Kenyans to treat the virus with a lot of seriousness and and to follow the steps put in by the government to stop further spread.