International News 

‘Kenya is broke’ says government

Kenya is “broke”, its Treasury says, and now plans to slash its budget deficit which reportedly stands at least 80bn shillings ($790m; £569m). BBC Treasury Cabinet Secretary Henry Rotich made the comment at a senate finance committee yesterday, where he told senators to reduce budgets for each of Kenya’s 47 counties by up to 18bn shillings ($178m; £128m) within this financial year. “We are running short of revenue. There was a slow-down in business activities because of [last year’s contested] elections. We are now catching up,” he added. The International…

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International Monetary Fund Business News 

Debt clearance key to funding resumption: International Monetary Fund (IMF)

The International Monetary Fund (IMF) plans to help the government with taxation reform policies under its technical assistance plan pending resolution of debt clearances owed by Zimbabwe to other multilateral financiers. Zimbabwe’s clearance of debts to the International Monetary Fund (IMF) last year marked a shift to normalisation of times; however, the nation is still to get any meaningful funding from the global lender. International Monetary Fund (IMF) resident representative Mr Christian Beddies says while the institution has restored technical help to the government through  tax reform policies, resumption of…

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indecent assault Business News 

IMF team Harare-bound

An International Monetary Fund (IMF) team is Harare bound to have a review of the country’s economic performance following the ushering in of a new political dispensation as efforts to normalise ties with Zimbabwe gather momentum. The team which will be in the country for its Article Four consultations in March is expected to meet government officials in the ministry of finance, central bank officials and industry representatives among others. Official government sources confirmed this Monday the Harare-bound IMF team will also be seeking to assess the reforms being instituted…

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