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Don't Lend Our Government, Debt-Weary Kenyans Demand of IMF

Don’t Lend Our Government, Debt-Weary Kenyans Demand of IMF
Bloomberg
2 hrs ago
Adelaide Changole
© Bloomberg
Motorcycle taxi drivers wait on the corner for passengers as Samsung Electronics Co. advertising hoardings cover a building beyond in downtown Nairobi, Kenya, on Thursday, April 23, 2020. Kenya s economic growth could slow to as low as 1% this year as effects of the coronavirus pandemic take a toll on businesses and revenue, according to the National Treasury Secretary Ukur Yatani.
(Bloomberg) The International Monetary Fund has walked into a storm of social-media criticism after approving a $2.34 billion three-year financing package for Kenya.
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“Previous loans to the Kenya government have not been prudently utilized and have often resulted in mega-corruption scandals,” according to one petition created on April 4 that had about 232,000 signatures by Friday morning. “The IMF can and should do ....

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IMF Approves $2.3 Billion Three-Year Funding Plan for Kenya

IMF Approves $2.3 Billion Three-Year Funding Plan for Kenya
Bloomberg
1 day ago
Eric Ombok
© Bloomberg
A passenger on a bus wears a protective face mask in Nairobi, Kenya, on Thursday, April 23, 2020. Kenya s economic growth could slow to as low as 1% this year as effects of the coronavirus pandemic take a toll on businesses and revenue, according to the National Treasury Secretary Ukur Yatani.
(Bloomberg)
The International Monetary Fund approved a $2.34 billion financing package for Kenya to support the country’s Covid-19 response and address an urgent need to reduce debt vulnerabilities.
Approval of the so-called Extended Credit Facility and Extended Fund Facility will enable immediate disbursement of about $307.5 million for budget support in the East African nation, the Washington-based lender said Saturday in an emailed statement. ....

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Inside Covid-19: Insurance extras to help restaurant owners survive tough times; what the world can learn from Israel

Inside Covid-19: Insurance extras to help restaurant owners survive tough times; what the world can learn from Israel
A year ago, the coronavirus pandemic struck, turning people’s lives upside down and transforming the way we work and do business. In this episode of Inside Covid-19, Discovery Insurance Chief Operating Officer Lana Ross shares the details of innovations in cover for restaurants – which have been hit particularly hard by lockdown measures. And, we hear insights on how Israel has had one of the world’s most successful vaccination efforts yet. Public health experts say that an Israeli study shows that immunisations could end the pandemic. Naomi Kresge of Bloomberg looks at why the Israeli study is so significant and why it may point to an eventual way out of the pandemic. – Jackie Cameron & Jarryd Neves ....

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Kenya Extends Night Curfew by 60 Days as Virus Cases Surge

Kenya Extends Night Curfew by 60 Days as Virus Cases Surge
Bloomberg
3/12/2021
Eric Ombok
© Bloomberg
A worker waits for customers at the entrance to a children s clothing and supplies store in downtown Nairobi, Kenya, on Saturday, Dec. 5, 2020. Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended fund facility.
(Bloomberg) Kenya extended a night curfew by 60 days and banned political rallies for a month after the Covid-19 positivity rate surged to 13% in March from 2% in January, President Uhuru Kenyatta said.
The East African nation’s economy suffered a 560 billion-shilling ($5.11 billion) hit as a result of the coronavirus pandemic, Kenyatta said Friday while announcing the additional measures to curb a third wave of infections. Gross domestic product expanded by an estimated 0.6% in 2020, instead of an initial projection of 6.2%, after the government introduce ....

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