Rate Cap Gone But Eurasia Sees Kenya IMF Facility Still Far Off
- Eurasia says off-target budget deficit to delay IMF credit
- Goldman Sachs says program hinges on fiscal trajectory
A man stands and looks out across the city skyline in Nairobi.
Photographer: Trevor Snapp/Bloomberg
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A wider-than-anticipated fiscal deficit may delay renewal of an International Monetary Fund credit facility for Kenya despite the state repealing a controversial interest-rate cap, according to analysts including Eurasia Group.