Kenya is on the right track towards economic recovery, the International Monetary Fund (IMF) managing director Kristalina Georgieva has said.
Georgieva who met President William Ruto at State House on Wednesday said various measures put in place by the government such as prioritising investment in agriculture and Micro and Small Enterprises (MSESs) will offer quick turnaround results.
She said the government’s dynamism of investment, prudent fiscal measures, and transparency in governance have set the country on the path of success.
“We commend you for what you are doing on your fiscal measures. The country is certainly headed in the right direction,” she said.
She said IMF is ready to join forces with the government to fast-track the country’s economic recovery programmes.
Ruto reiterated the government’s commitment to manage the country’s debt to sustainable levels.
The President said the government has cut down on new projects and stopped subsidy programmes that were draining the country’s resources.
He said the government has deliberately invested in agriculture and MSESs to create opportunities, income, and wealth for as many Kenyans as possible in line with the Bottom-Up economic transformation agenda.
"We commit to staying the course, especially on fiscal discipline and giving priority to projects that will have money circulate," he said.
The IMF has pledged to continue working towards making the country’s domestic market attractive through the management of interest rates.
