The International Monetary Fund (IMF) has called for transparency in the spending of Covid-19 response funds in Kenya amid rising concerns of misappropriations of millions of shillings.
The IMF, in a detailed assessment of Kenya’s economy published this week, reckons that Nairobi must enhance transparency in the utilisation of these funds to ensure they are being spent on combating the virus that has so far infected 781 Kenyans and caused 45 deaths.
The Bretton-Woods institution says corruption, misuse and lack of transparency in the spending of Covid-19 funds risks compromising Kenya’s efforts to tackle the pandemic.
Though Kenya is amassing new massive debts to fight the pandemic, the IMF is confident of the country’s ability to repay.
“Given the likelihood of continued access to concessional financing in such a scenario and in light of Kenya’s strong track record of servicing debt to the fund and other creditors, Kenya’s capacity to repay the fund would remain adequate,” says the IMF.
