IMF sees loans to Kenya’s private sector declining
The International Monetary Fund (IMF) sees loans to Kenya’s private sector declining to a single digit growth this year signaling a dim view of economic activity as the country struggles with weak demand and crowding out effect of the debt paying government. The Fund indicated that credit to the private sector is expected to plunge from 12.5 percent to 9.5 percent. This signal banks will be more willing to lend to the government than to private businesses and individuals. Private sector suffering The IMF Board, which yesterday gave Kenya access to $415.4 million programme loans and additional support as well as new credit line of…
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