The IMF has started a corruption and governance review in Kenya, aiming to support economic growth through governance reforms. This initiative, prompted by public pressure on President Ruto for accountability, will include a scoping mission assessing corruption vulnerabilities in key governance areas. The IMF emphasizes the need for Kenya to address ongoing economic challenges amid recent taxation reforms.
The International Monetary Fund (IMF) has initiated a governance review focusing on corruption in Kenya, according to a senior government official. This technical assessment aims to implement vital governance reforms that combat corruption and enhance economic growth, as stated by Musalia Mudavadi, the Prime Cabinet Secretary, following a meeting with IMF’s Rebecca A. Sparkman.
Mudavadi expressed appreciation for the IMF’s response to Kenya’s request for a Governance Diagnostic Assessment. The review will start with a scoping mission and proceed with a comprehensive assessment later this year, providing a structured approach to addressing corruption.
This initiative follows a commitment from President William Ruto, who faced pressure from youthful protestors advocating for accountability. Ruto plans to propose changes to relevant laws by July 2024 to effectively close loopholes that impede anti-corruption efforts amid growing public dissatisfaction over economic conditions.
The IMF has urged Kenya to bolster efforts in confronting budgetary challenges post-taxation reforms that led to widespread protests in June 2024. As part of the assessment, Sparkman indicated that the scoping mission will assess corruption risks across six key areas, including fiscal governance, central bank operations, and the regulation of financial markets.
In summary, the IMF’s governance review in Kenya represents a concerted effort to tackle corruption and enhance economic performance. The Kenyan government is poised to implement reforms based on the forthcoming findings, reinforcing its commitment to accountability and transparency amid public demand for effective governance. With multiple critical areas under scrutiny, the review could provide substantial insights into improving Kenya’s fiscal landscape.
Original Source: www.socialnews.xyz
