Compared to many other countries, Kenya’s one per cent growth is deemed better than most sub-Saharan countries with no diversified economy and which rely mainly on oil or mineral exports. The fund notes it is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the global financial crisis a decade ago. "The Great Lockdown, as one might call it, is projected to shrink global growth dramatically. FINANCIAL CRISISThe outlook says there is extreme uncertainty around the global growth forecast because the economic fallout depends on uncertain factors that interact in ways hard to predict. But IMF says the pandemic has set in motion a financial crisis like no other to hit the global economy.

Source: Daily Nation April 16, 2020 07:52 UTC