IMF Continues Loan Suspensions to Kenya for Lack of Anti-Corruption Legislation

On August 15, 2001, the International Monetary Fund announced that lending to Kenya would stay suspended after Kenya’s parliament rejected a critical anti-corruption bill. Although the Kenyan Government said it still hopes to persuade the IMF to restore lending, diplomats said the government should focus on convincing opposition parties to pass some kind of modified legislation. However, Mwai Kibaki, opposition leader of the Democratic Party, said the government proposal had many discrepancies and fell short of what would be required to fight corruption…[more]