As part of a broader study of the International Monetary Fund and economic management in developing countries, it is intended here to examine this theme as it relates to Kenya. Parts I to IV focus on the performance of the economy and the efficacy of government policies, especially as they relate to major disequilibria which emerged during the first half of the 1970s and have persisted since. Part V studies the role of the IMF in attempts to improve the balance of payments, concentrating particularly on Fund credits that were negotiated in 1975 and 1979-80, and offers some concluding remarks.