Kenya IMF bid

Kenya is due to meet today with The International Monetary fund, IMF, to discuss a loan request of 200 million dollars.

According to an IMF representative, the Kenyan government says the money is vital to cushion its currency against fallout from the global downturn and a severe drought.

The news is also not good on the employment front. Already more than 7,000 workers have been laid off due to the economic crisis.

A survey by the Federation of Kenyan employers indicates that a further 6,000 are likely to lose their jobs by the end of this year.