Washington Akumu Frozen IMF loans to Kenya could be released by August, an upbeat Finance Minister Chris Okemo said yesterday. Mr Okemo said the Government, which has a Sh5.6 billion budget deficit, hoped to meet key IMF demands before the Budget is read on June 15. An Amendment Bill to re-establish Kaca as an independent body with powers to prosecute and investigate corruption has been drafted to be tabled in the next Parliamentary session, beginning on June 5. This will be followed by enacting an Economic Crimes and Codes of Ethics Bill for the various Government organs.
Parliament goes on a brief recess today.
Mr Okemo said the House Business Committee had decided to reconvene Parliament a week early to accommodate the crowded agenda. He hoped Parliament would debate and pass the Bill. I am optimistic. We have made substantial progress on the key fronts. Of late, there has been an increased impetus in Government circles to mend fences with the Fund, seen as key to reviving an economy that last year grew by only 0.3 per cent.