Treasury Cabinet Secretary John Mbadi has led a delegation of Kenyan officials to a five-day meeting with the International Monetary Fund (IMF) and World Bank in Washington DC, US.
According to a statement shared by the National Treasury and Planning on Monday, October 21, 2024, Mbadi is accompanied by other officials from the Central Bank of Kenya (CBK) for the 2024 IMF and World Bank Annual Meeting running till Saturday, October 26, 2024.
Mbadi and the other officials including CBK Governor Kamau Thugge are expected to engage in critical conversation centering around financial stability, poverty reduction, green financing, and sustainable development.
Kenya’s agenda
The meetings whose theme is ‘Delivering with Ambition’ come at a time when Kenya is witnessing an improved macroeconomic outlook, characterized by declining inflation, a stable exchange rate and steady growth in Gross Domestic Product (GDP).
According to the statement shared by the National Treasury, the Kenyan delegation led by CS Mbadi would be pitching policies which continue to anchor the country in the positive economic development trajectory where all citizens stand to benefit.
“The delegation aims to leverage this opportunity to build on these gains and seek international support to further advance the government’s Bottom-Up Economic Transformation Agenda (BETA), which focuses on inclusive growth and economic empowerment for all Kenyans,” the statement read in part.
“These meetings present an opportunity to forge strategic partnerships and access financial resources that are critical for continuing Kenya’s economic recovery and sustained growth. We expect to share with our development partners Kenya’s recent successes in maintaining low inflation and supporting growth,” CS Mbadi added.
Other meetings
Besides meeting with the IMF and World Bank, the Kenyan delegation is expected to capitalise on the opportunity to participate in a series of side meetings with international financial institutions, development partners, and other stakeholders.
These discussions will address issues such as climate finance, debt sustainability, green energy investments, and post-pandemic recovery strategies. The side meetings are considered vital for advancing Kenya’s economic and developmental agenda, aligning with global trends, and securing necessary financial support.
“Engaging in these side discussions is crucial for Kenya’s long-term development, particularly in securing climate financing and advancing infrastructure projects that are essential to our continued economic growth,” Treasury Principal Secretary Chris Kiptoo stated.
