Hartmann, P., Borgioli, S., Kempf, A., Molitor, P. and F. Mongelli (2021), “Financial integration and structure in EMU during the corona crisis,” VOXEU. 9. Cohesion funds existed but were not significant enough to create an effective public risk-sharing mechanism. 10. Blanchard, O. (2019), “Public Debt and Low Interest Rates,” American Economic Review, Vol. 109, No 4, pp. 1197-1229. 11.
Kenya like other developing economies is quite vulnerable to money laundering and terrorism financing due to a number of displacement factors; key amongst them being a high volume of cash based transactions, lack of an adequate legal framework and the existence of alternative remittance avenues.