Kenya [electronic resource] : 2011 Article IV Consultation, Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Requests for Modification of Performance Criteria and Augmentation of Access: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kenya.

International Monetary Fund
Washington, D.C. : International Monetary Fund, 2012.
IMF eLibrary
IMF Staff Country Reports; Country Report No. 12/14.
IMF Staff Country Reports; Country Report No. 12/14
Government document
1 online resource (89 p.)
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Article IV consultation reports.
Balance of payment.
Balance of payments.
Budget balance.
Central bank.
Commercial borrowing.
Commercial debt.
Credit expansion.
Current account.
Current account balance.
Current account deficit.
Debt dynamics.
Debt management.
Debt management office.
Debt management strategy.
Debt service.
Debt strategy.
Debt sustainability.
Debt sustainability analysis.
Demand for government securities.
Domestic absorption.
Domestic borrowing.
Domestic debt.
Domestic financing.
Extended Credit Facility.
External borrowing.
External debt.
External financing.
External liabilities.
External loans.
External payment.
External public debt.
External shocks.
Fiscal consolidation.
Floating exchange rates.
Government debt.
Government securities.
Inflation targeting.
Interest rates on government securities.
Long-term debt.
Long-term external debt.
Loose monetary policy.
Monetary authorities.
Monetary conditions.
Monetary fund.
Monetary gold.
Monetary model.
Monetary policy.
Monetary policy framework.
Monetary policy rule.
Monetary stance.
Monetary survey.
Monetary targets.
Money laundering.
Money market.
Official creditors.
Official reserves.
Payment arrears.
Performance criteria modifications.
Principal repayments.
Private credit.
Public and publicly guaranteed.
Public debt.
Public finance.
Reserve accumulation.
Reserve assets.
Reserve requirements.
Reserves accumulation.
Share of government securities.
Sovereign bond.
Sovereign bonds.
Staff Reports.
This paper discusses key findings of the Second Review for Kenya under the Extended Credit Facility (ECF). Program implementation during the first half of 2011 was in line with the objectives. All quantitative performance criteria and indicative targets for June 2011 have been met. The authorities have requested augmentation of access under the ECF arrangement to deal with the impact of the drought and higher-than-anticipated international prices. They have adopted additional measures to address macroeconomic imbalances.
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