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IMF: Kenya performs well in transparency report

Staff Writer |
Kenya has performed well in public finance transparency, the International Monetary Fund (IMF) said in a report released in Nairobi.

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According to the Fiscal Transparency Evaluation Report (FTE), Kenya performed well across three pillars and 36 IMF Fiscal Transparency Codes.

"13 of the code's 36 principles are rated as either good or advanced, while 16 principles are rated as basic," the report said.

So far the IMF has conducted the study in 15 countries across the globe including Mozambique, Tanzania, Uganda, Bolivia, Costa Rica, Romania, Russia, Albania and Peru.

The survey showed that Kenya's production and dissemination of annual fiscal statistics was according to the IMF's transparency code.

The finding shows that there was no reporting of the central government's balance sheet in key fiscal reports although basic information on public debt and cash deposits was available.

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