A report that was to be released by the IMF at the end of a review of Kenya’s financial situation in July is yet to be made public. At stake is a Sh150 billion standby credit facility which is given to IMF member countries facing potential balance of payments need. At the end of the last financial year, it stood at 9.1 per cent, two percentage points more than the IMF targets. Matatu fareThe ripple effect of this will be a jump in the prices of almost all goods, starting with matatu fares. In Nairobi, a 50kg bag of sugar is currently retailing at Sh6,000 up from Sh4,500 last month.
Source: Standard Digital August 18, 2018 21:00 UTC