This archive report was first published on 16 May 2020.
Kenya is facing mounting pressure to enhance transparency in the utilisation of Covid-19 funds, following a call by the International Monetary Fund (IMF) to ensure that the funds are being spent on combating the virus.
According to the IMF, corruption, misuse, and lack of transparency in the spending of Covid-19 funds risks compromising Kenya's efforts to tackle the pandemic.
Kenya has so far raised about $1.5 billion from various development partners to fight the pandemic, including receiving $739 million from the IMF, $50 million from the World Bank, and $6.6 million from the US government.
The Kenyan government has also mobilised about $20 million from private sector firms and rich individuals through the Covid-19 Emergency Response Fund.
As of 2020, Kenya's stock of public debt currently stands at $60.3 billion, with the country's IMF loans standing at $960 million.
“The authorities should undertake independent audits of samples of crisis mitigation spending and publish the results of these audits,” states the IMF report.
It adds that the government should also publish documentation on related procurement contracts together with the ex-post validation of delivery along with the name of awarded companies and their beneficial owners.
Kenya faces an uncertain wait before the IMF board approves a $1.5 billion standby credit facility designed to protect the Kenyan shilling against external shocks and raise the country's credibility in the eyes of international lenders.
