IMF SAYS ECONOMY WILL NOT SUFFER IF UHURU IS ELECTED

The International Monetary Fund has said Kenya’s economy will not suffer adverse effects if the European Union imposes sanctions on a Uhuru Kenyatta government.

Visiting deputy IMF director Domenico Fainizza said Kenya’s economy can weather the consequences of EU sanction, as exhibited by its resilience during the world economic crisis and the Euro crisis.

“Kenya is much less dependent on the European countries than before and as witnessed when exports to Europe stagnated. The drivers of Kenya’s economic growth have been domestic based, including the ICT and financial sector and increased investments by the growing number of the middle class ,” Fainniza said.