Kenyan strife damaging economy, says World Bank

The post-election conflict in Kenya is now a cause of concern for the World Bank and the rest of the donor community. The agency said donor governments like the U.S., Britain and the European Commission “are concerned that the unrest that continues in some parts of the country threatens impressive recent gains in economic growth and poverty reduction.” The situation could gravely affect the economies of Uganda, Rwanda and Burundi, whose commodities pass through Kenya. “Over the medium term, tourism could be impacted negatively,” the bank added. The said sector brings in USD800 million per year to the country.

Source: World Bank warns Kenya’s economic gains at risk (Reuters)