The IMF is stalling on providing financial assistance to the Kenyan government due to its failure to meet revenue targets, particularly the tax-to-GDP ratios. This has led to the introduction of heavy taxes and painful measures in the Finance Bill 2024. Additionally, Kenya's domestic debt interest is consuming nearly half of the collected revenue, indicating significant financial strain and suggesting that taxpayers may face further revenue measures.
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IMF and Pakistan start policy-level talks https://t.co/e197DpLeVC https://t.co/cIXzZsVILu
With Kenya's domestic debt interest consuming nearly half of the collected revenue, the government's financial strain is palpable. This situation suggests that taxpayers could be the primary target for additional revenue measures. https://t.co/8vJIrfnozX
The IMF is stalling on giving cash to the Kenyan government as the latter has been unable to meet the revenue targets it has promised the IMF (those tax to GDP ratios you keep hearing about). The heavy tax and painful measures in the Finance Bill 2024 are the result. https://t.co/m4GHNCiZyw