01948cas a2200241 a 4500 AALejournalIMF015001 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484355237 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Kenya : Request for Stand-by Arrangement and an Arrangement Under the Standby Credit Facility. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (93 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Following the approval of a new constitution in 2010, the authorities have embarked on important reforms including fiscal devolution, VAT reform, and the overhaul of the expenditure management framework. Supported by a three-year ECF, which expired in December 2013 with all six reviews completed, Kenya has consolidated macroeconomic stability. Growth has been robust, inflation contained, debt remained sustainable and reserve buffers increased (Tables 1a and 1b and Figures 1 and 2). This progress in a market-friendly environment has continued to attract the interest of foreign investors. As a result, Kenya is recognized as a frontier market increasingly integrated in global financial markets. A Eurobond debut issue of USD 2 billion (the largest in SSA so far) took place successfully in June followed by a USD 750 million re-tap in December. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2015/031 Full text available on IMF http://elibrary.imf.org/view/journals/002/2015/031/002.2015.issue-031-en.xml IMF e-Library