Actually, this is what he said:

“Kenya has stayed the course in its economic reforms. Despite the ongoing electoral campaign, the still difficult global conditions, and the high cost of security operations in Somalia, fiscal discipline has been maintained, monetary policy has remained cautious, and structural reforms have progressed. The results have been favorable. Inflationary pressures have been tamed. Economic growth has kept a good pace, notwithstanding the slowdown of exports to and tourism from Europe. International reserves are on the rise, and the current account position has significantly improved – once we exclude capital imports that have surged notably because of oil exploration. The public debt-to-gross domestic product (GDP) ratio has declined, despite the large budgetary costs of implementing the new Constitution, preparing the upcoming elections, and the recent wage increases in the civil service. Financial inclusion is moving fast, providing the opportunity to reach millions of people who until recently did not have access to financial services. Interest rates have started to decline, providing support to economic activity. Rising foreign investment has sustained the strong performance of the stock market.

These results are encouraging, but much remains to be done. Policies need to continue to reduce Kenya’s vulnerabilities in a context of heightened domestic electoral uncertainty and a weak global economic outlook. Therefore, discussions focused on further strengthening the foundations for sustained, higher, and more inclusive growth to improve the living conditions for all Kenyans. In particular:

The mission welcomes the CBK’s continued vigilance in easing its policy stance, closely monitoring inflation expectations and anticipating possible price shocks. Monetary operations should seek to manage liquidity effectively, leading interbank rates to further converge to the central bank policy rate.
The CBK should continue to build up its international reserves to buffer the external position. The mission welcomes the CBK’s commitment to its floating exchange rate regime.
Fiscal policy should remain geared towards lowering the public debt-to-GDP ratio further. Improved expenditure control should allow social and development expenditures to rise, as non-priority spending falls. Revenue mobilization efforts should benefit from the ongoing value-added tax (VAT) audits of large taxpayers, import duty compliance checks, and strengthened verification procedures for excise tax payments. The mission encourages the authorities to implement the Treasury Single Account, build public financial management capacity at the county level, and seek approval of the new VAT Bill by the new National Assembly as soon as possible.
Financial sector stability should be enhanced by new prudential regulations and consolidated supervision of regional banking groups. Deepening of the financial sector should be supported by the demutualization of the Nairobi Stock Exchange, as well as efforts to set up a Real Estate Investment Trust and establish a Futures and a Commodities Exchange.

Source: http://www.imf.org/exter...p/sec/pr/2013/pr1349.htm

joke of the year.

Smell the coffee brother, the world turned East a few years ago

This is Good NEWS!
Lets for once believe in ourselves.
why doubt?
For those of us who know a bit of Britain know for sure they have thousands of white beggars there who can't afford a single meal forget those flowers and hotels!!

Nobody ever talked of sanctions. Nobody can punish Kenyans for exercising their Democratic right freely!

@dunkang yes these firms milk our economy but do you see any Kenyans setting up rival firms to compete with these guys??

The fact is reliance is not only about aid.. If their governments ban these guys from operating in Kenya who will fill the gap in taxes & services that will arise??

BRICS Devt. Bank! (Mar. 26th-28th, RSA). S/O to Afreximbank, PTA Bank & DBSA - Scale up! (Much appreciation to the good they've been up-to in Zim!) Government secures grant - DBSA http://www.zbc.co.zw/new...ment-secures-grant.html | PTA Bank extends credit lines http://www.zbc.co.zw/new...tends-credit-lines.html | Afreximbank pledges $800m - Zimbabwe http://www.newsday.co.zw...freximbank-pledges-800m/

http://www.zbc.co.zw/new...bserving-zim-polls.html
| http://www.newzimbabwe.c...ujuru%20talks/news.aspx NB: Kenya has structures; no Banana Republic

@Nabwire Economics 101: GOK has a budget that is sustained by taxes and borrowing... Currently taxes sustain about 75% - 80% of the budget leaving 20% -25% for borrowing... This was probably why the team thinks Kenya is self sustaining!

But I was merely pointing out that the biggest tax payers are foreign multinationals & our dear exporters and the biggest lenders to GOK are foreign banks!

Lets not even go into how the clothes on our backs are imported!
Lets not even go into how you will not be able to send money home!

The big question is who finances the budget when they leave??

FACT: Show me which economy have the IMF/World Bank saved? This bloody agents of poverty are screwing economies world over...from Argentina to Malawi now Kenya...this agents can't even save their own countries (Euro zone) how do you expect them to help you? The IMF should stop playing politics in Kenya. RAO might be socialist...it doesnt mean they start telling lies.