KENYA: PRESIDENT STEPS UP PRESSURE TO LIFT THE LENDING RATE CAP TO APPEASE THE IMF
Fri, 18 October 2019
The president makes a bold political gamble to force parliament to lift an interest rate cap which has starved private sector lending and is slowing economic growth. His government hopes to persuade the IMF to restore a standby credit facility to protect Kenya’s distressed credit ratings, yet other factors may thwart such a strategy.
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