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Another loan, IMF approves Ksh. 255 billion loan to Kenya.

The International Monetary Fund of World Bank has approved a Ksh 255 billion to Kenya. CS Ukur Yattani said the loan would be used to the next phase of the Covid 19 response and reduce debt vulnerabilities.

He revealed that the government requested for the loan because of the early measures announced by the government to the effect of tax reliefs, social programmes such as Kazi Mtaani and increased health spending that requires additional money.

Yattani disclosed that the loan would help the government be prepared because of the unpredictable nature of COVID 19 pandemic and uncertainties surrounding the supply of COVID 19 vaccines.

He further expressed his confidence in the support, stating that it would go a long way in neutralizing the harsh effects of the pandemic and also help achieve budget objectives.

By; Mikey Mugutsu

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