President Ruto Hails IMF as Key Ally in Kenya’s Economic Transformation After High-Level Talks in Washington
He expressed optimism that the enhanced cooperation with the IMF will help accelerate these efforts and support the country’s broader development goals.
He expressed optimism that the enhanced cooperation with the IMF will help accelerate these efforts and support the country’s broader development goals. Photo/Courtesy.
By Ruth Sang
President William Ruto hailed the International Monetary Fund as a reliable and strategic partner for Kenya in its continuous journey of reforming and transforming its economy. The President, in a statement shared on his official page, noted that the Fund has greatly contributed to strengthening Kenya’s fiscal management, reining in external debt, and supporting structural reforms in many sectors of the economy.
The President credited this to continued engagement by the International Monetary Fund [IMF] over the years, which has helped stabilize the country’s financial landscape amid a time of global economic shocks and fiscal pressures locally. He attributed the inputs of the IMF, in terms of technical and advisory support, as crucial in ensuring that Kenya remained on course for stability and sustainability in its economic path.
The Head of State noted that Kenya’s economy has been growing remarkably within a short period, rising from the eighth to the sixth largest economy on the African continent in just two years. He partly attributed this success to the joint efforts of international partners such as the IMF, whose programmes have reinforced the country’s reform agenda, boosting investor confidence.
President Ruto reiterated the government’s commitment to deepening development partnerships as Kenya strives to build economic resilience, attract investment, spur job creation, and deliver broad-based prosperity. He said that cooperation with global institutions remains central to the country’s long-term vision for growth and stability.
During his visit to Washington, D.C. over the weekend, President Ruto had what he termed “productive discussions” with IMF Managing Director Kristalina Georgieva as they explored ways of broadening areas of cooperation and strategies to keep Kenya’s economy resilient. They reportedly agreed that going forward, the partnership needs to be anchored on transparency, mutual trust, and good economic governance.
The President noted that Kenya is keen on deepening its reform initiatives—ranging from fiscal consolidation to enhancing public financial management systems—while continuing to protect the most vulnerable households from economic hardships. He expressed optimism that the enhanced cooperation with the IMF will help accelerate these efforts and support the country’s broader development goals.
As Kenya sails through the turbulent waters of uncertainty in the global economy, President Ruto said responsible governance, strategic partnerships, and disciplined financial management would remain at the core of the country’s economic agenda. He assured Kenyans that his government was still focused on guiding the country toward sustainable growth, with benefits accruing from ongoing reforms trickling down to all their communities. This renewed commitment to collaboration with the IMF underpins the government’s pledge for policies that ensure stability, engender inclusive development, and create a brighter economic future for the country.
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