Kenya: Ex Post Assessment of Longer-Term Program Engagement
Volume/Issue:
Volume 2008
Issue 338
Publication date: October 2008
ISBN: 9781451821208
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Topics covered in this book
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Business and Economics , Social Science , Banks and Banking , Public Finance , ISCR , CR , exchange rate , interest rate , monetary policy , permanent secretary , State shareholding , anti-corruption czar , government financing , Corruption , Legal support in revenue administration , Sub-Saharan Africa , Global
Summary
This paper discusses key findings of the Ex Post Assessment (EPA) of Longer-Term Program Engagement paper for Kenya. This EPA focuses on 1993–2007, when Kenya was engaged in four successive IMF arrangements. Macroeconomic policy design was broadly appropriate, and implementation was generally sound. Growth slowed in the 1990s, but picked up after the 2002 elections, reflecting buoyant global conditions, structural reforms, and a surge of private capital inflows. Monetary policies were complicated by a reluctance to allow for full interest and exchange rate flexibility.
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