Suley2019
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- Oct 7, 2019
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Kulingana na ripoti ya jukwaa la habari za biashara nchini Kenya, BusinessDaily, IMF ilifichua kuwa Kenya ni miongoni mwa wakusanyaji wakuu wa mapato yake kwani benki hiyo inapanga kupata takribani asilimia 2 ya mapato yake ya mkopo kutoka nchini Kenya.
"Income kutoka Kenya inatabiriwa kuchangia takribani asilimia mbili ya jumla ya mapato ya kukopesha katika mwaka wa fedha 2024 [unamalizika Aprili], kulingana na tathmini ya meza kwa mahitaji ya mpango yanayotarajiwa ifikapo Septemba 2023," mdaiwa huyo wa kimataifa alifichua.
"Jumla ya malipo na ada za GRA (General Resources Account) kwa Kenya zinafikiriwa kuwa SDR milioni 116 kwa mwaka wa 2024," benki iliongeza.
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According to a report by the Kenyan business news platform, BusinessDaily, the IMF revealed that Kenya is one of its top revenue earners since the bank plans to get around 2% of its loan revenue from the East African country.
“Fund income from Kenya is projected to account for about two percent of total lending income in FY2024 [ending April], based on a desk survey scenario for projected program demand as of September 2023,” the global lender disclosed.
“Total GRA (General Resources Account) charges and fees for Kenya are projected at SDR 116 million for 2024.” the bank added.
Special Drawing Rights, or SDRs, are a group of currencies that comprise the US dollar and the euro. At this point, a unit of SDR is worth Sh215.5, according to the BusinessDaily's report. The fees the bank collects from the GRA, commitment fees, and service costs for credit utilization fund its lending operations.
The global lender recently approved a loan worth Sh110.8 billion ($684.7 million) to the East African country. The approval follows the “completion of the sixth review of Kenya's multi-year arrangement with the fund under the Extended Fund Facility (EFF) and Extended Fund Facility (ECF) and the first review of the Resilience and Sustainability Facility (RSF),” as seen in the report.
Kenya has been dependent on the IMF for loans since the Coronavirus outbreak of 2020, as a result, the country has since then become one of the IMF’s top borrowers. Kenya is behind just 9 countries in the world when it comes to outstanding debts to the IMF, these countries are Ukraine, South Africa, Pakistan, Egypt, Ecuador, Colombia, Argentina, and Angola.
By the end of 2023, Kenya owed the IMF $2.051 billion (Sh332 billion). This enormous debt has been and continues to be to the detriment of the Kenyan taxpayer.
Additionally, the global lender has structured benchmarks for its loans that Kenya must meet to be eligible for more loans.
This benchmark includes the elimination of fuel and energy subsidies to relieve pressure on the National Treasury and free up cash for debt repayment to both domestic and external creditors. The IMF also suggested that tax measures be put in place to increase its government coffers.
