Kenya Signals Slightly Lower Growth Outlook on Election Rematch
- Central bank’s Njoroge says growth could be ‘south of 5.5%’
- Governor praises Fed normalization guidance for smooth markets
Police stand as opposition supporters demonstrate along the streets of the Kenyan capital Nairobi on October 6, 2017 to demand a change of guard at Kenya's national election oversight body, the Independent Elections and Boundaries Comission (IEBC) that the opposition led by Raila Odinga have said cannot be expected to conduct a fair re-run of the presidential election as composed. Leaders of the opposition National Super Alliance (NASA) coalition say the election commission, in its present form, should be barred from managing the re-run vote after the Supreme Court annulled the original August poll, citing widespread 'illegalities and irregularities'. / AFP PHOTO / TONY KARUMBA (Photo credit should read TONY KARUMBA/AFP/Getty Images)
Photographer: Tony Karumba/AFP via Getty ImagesKenya’s central bank may slightly lower its 2017 economic growth forecast to reflect uncertainty from this month’s unexpected presidential election do-over, said Governor Patrick Njoroge.
“The growth rate won’t be as strong as we expected, but I don’t think we can say that we’ve gone over the precipice,” Njoroge said in an interview in Washington on Saturday, where he was attending annual meetings of the International Monetary Fund and World Bank.