The International Monetary Fund (IMF) has agreed to loan Kenya money estimated to be sh153 billion.
This comes a few months to the reading of the 2016/2017 financial year budget.
The IMF treasury revealed that Kenya is on the best position to get sh77 billion immediately but withdraw the remaining for a period of six months. He said the money is enough to be used until 2018. IMF also said Kenya’s economy might look stable but has some other threat factors that need to be settled like security threats and less favourable global financial market conditions.
The move has received mixed reactions from Kibera residents.
Kimtula Karrim said the money will only be important if the EACC puts all corrupt people in jail.
‘‘Every time Kenya has money, corruption cases increase. This money might be lost if we are not careful,’’ he said.
Richie Wambulwa, however, said the money will help boost the Kenyan economy since all sectors will get enough money and not complain of their budget not having been met. He said that the government should, however, be alerted not to allocate a lot of money to different sections that they will not use.