IMF drops tough stance on Kenya’s fuel subsidy

fuel prices, fuel subsidy, petroleum development levy


Business Daily | by Otiato Guguyu


Kenyan officials resisted the push by the International Monetary Fund (IMF) to scrap the fuel subsidy programme that has seen the government spend Sh49.164 billion to stabilise the petroleum prices.

Treasury Cabinet Secretary Ukur Yatani said they reached an agreement with the IMF to sustain the programme to cushion the economy from a sharp rise in the cost of living as a result of a global spike in oil prices…

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