IMF warns against further fuel subsidies amid global oil market uncertainty

As Kenyans reel from the fuel price shocker that hit this week, clamouring for even greater cuts to levies and taxes and a higher subsidy, the IMF has warned that in the long term this could do more harm than good. IMF Managing Director Kristalina Georgieva has warned that should the Strait of Hormuz open unconditionally, it could take years before things go back to the pre-war state.