The international credit rating agency also warns of higher inflation on increased taxes.
Potential tighter fiscal conditions as part of the International Monetary Fund (IMF) programme will likely lead to lower credit growth in Kenya’s economy.
Banking risk experts at the global credit rating agency, Standard & Poor’s have warned that not even ongoing monetary policies that have seen the base-lending rate cut to 10 per cent will save the situation.
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Kenya's funding deal with the IMF expired early April 2025.
