A high-level delegation from the National Treasury and the Central Bank of Kenya (CBK) travelled to Washington D.C to attend the 2024 International Monetary Fund (IMF)/World Bank Annual Meetings, commencing today, October 21, to October 26.
Led by Cabinet Secretary for the National Treasury and Economic Planning, John Mbadi, the delegation will engage in critical discussions on pressing global economic challenges including financial stability, poverty reduction, green financing, and sustainable development.
The team which includes the Governor of the Central Bank of Kenya, Dr Kamau Thugge, and the Principal Secretary of the National Treasury, Dr. Chris Kiptoo will seek to unlock new funding for the country.
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).
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.
Since taking office just over 50 days ago, CS Mbadi has outlined his commitment to transforming Kenya’s economy through key fiscal reforms, infrastructure development, and sustainable growth initiatives.
“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,” said CS Mbadi.
Beyond the main sessions, the Kenyan delegation will 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,” noted PS Dr. Chris Kiptoo.
The IMF-World Bank Annual Meetings provide a global platform for Kenya to strengthen its international partnerships and position itself as a leader in sustainable development. The Kenyan delegation will also review ongoing IMF and World Bank-supported programs, focusing on poverty reduction, infrastructure expansion, and economic reform.
With a packed schedule, the delegation faces a busy week of high-level discussions aimed at driving Kenya's economic transformation agenda, reflecting the government's focus on inclusive growth and resilience amid global economic challenges.
