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US says IMF stopped Kenya economic meltdown

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Business Daily | by Brian Ngugi


The US government has revealed that emergency loans from the International Monetary Fund (IMF) cushioned Kenya’s economy from near collapse amid protests from Kenyans over the mounting public debt.

US Treasury Secretary Janet Yellen asked the US Congress to continue providing support to the IMF, citing its involvement in Kenya in the wake of Covid-19 economic hardships, which triggered layoffs, pay cuts and business closures…

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