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IMF gives Kenya billions |
The IMF said it’s ready to provide policy advice if needed.
According to Health Cabinet Secretary Mutahi Kagwe on Tuesday, Kenya has 582 Covid-19 cases.
Two key areas of Mombasa Old Town and Nairobi Eastleigh in its two cities having been put on lockdown to curb the spread of the novel coronavirus.
“The impact of COVID-19 on the Kenyan economy will be severe. It will act through both global and domestic channels, and downside risks remain large,” the IMF said in a statement.
“While the authorities have taken decisive action to respond to the pandemic’s health and economic impacts, the sudden shock has left Kenya with significant fiscal and external financing needs.”
IMF Executive Board approves US$739 million to help #Kenya address the economic impact of #COVID19. https://t.co/4LJKjzXMZs #IMFAfrica pic.twitter.com/TSHFtJW4qq— IMF (@IMFNews) May 6, 2020