IMF criticises Kenya's President Ruto for continuing fuel subsidies
A fuel attendant holding a fuel pump at the filling station along Kimathi Street in Nairobi, Kenya. The IMF remains displeased with Kenya’s continuing fuel price cushioning programme. PHOTO | NMG
The International Monetary Fund (IMF) has hit out at Kenya over the re-introduction of the fuel subsidy scheme on grounds that lack of funds to pay oil marketers will lead to distortion of the budget.
The IMF said that the government re-introduced the subsidy despite lack of funds to pay oil marketers with the Treasury yet to pay the firms at least Ksh9 billion ($55.6 million) that has accumulated from last year.
