At the 2014 Michel Camdessus Inaugural Central Banking Lecture (IMF), Janet Yellen posed the following question, "...How should monetary and other policymakers balance macroprudential approaches ... in the pursuit of financial stability?" This conversation has become more critical following the...

Kenya's medium-term economic outlook remains positive, supported by the authorities' continued firm commitment to their economic program amidst a complex environment. Economic recovery is well underway, but Kenya's Sustainable Development Goals (SDGs) have suffered significant setbacks, and...

This paper uses annual data from Kenyan banks over the 2010-2020 period to empirically analyze the link between diversification (non-interest income) and bank performance. Using dynamic panel regressions, the study finds that banks which diversify (functionally) their sources of revenues tend to...

Understanding the socioeconomic impact of the COVID-19 pandemic is important to inform policy responses. The arrival of COVID-19 disrupted lives across all countries and communities, creating unprecedented challenges. As of August 2021, there have been more than 200 million cases globally, with...

Understanding the socioeconomic impact of the COVID-19 pandemic on refugees is important to inform targeted policy responses. The arrival of COVID-19 disrupted lives across all countries and communities, creating unprecedented challenges for the world. As of August 2021, there have been more...

The COVID-19 pandemic caught many Small and Middle-Income Enterprises (SMEs) unaware and unplanned. The pandemic led to restriction of several economic activities in Kenya; key amongst them transportation, tourism and education. The ripple effect of these restrictions caught up with SMEs, taunted...