KENYA ‘WILL STICK TO IMF CONDITIONS’

KENYA’S Finance Minister Chris Okemo has rejected newspaper reports this week suggesting the country might not fulfill some of the conditions set by the International Monetary Fund for its aid package. He was reacting to comments attributed to President Daniel arap Moi this week that Kenya will not implement some of the IMF conditions for aid which it viewed as impossible, especially in light of the country’s economic troubles and a severe drought. The IMF agreed to resume lending to Kenya in July after a three-year absence but President Moi has repeatedly described the conditions set for the disbursement of funds as ”extremely tough”. Failure to implement past conditions was one of the reasons the IMF suspended lending to Kenya in 1997 and some observers argue Moi’s persistent criticism of the current conditions is a calculated move to make another about-turn. – Reuters