With new Sh255bn loan on the way, who will stop IMF?
Tuesday April 06 2021
The accumulation of debt, including from international capital markets (Eurobond), has seen Kenya commit more than half of taxes to paying loans in recent years. ILLUSTRATION | FILE
By OTIATO GUGUYU
Kenyans have been signing an online petition asking the International Monetary Fund (IMF) not to give the government any more loans.
The social media rage castigating the international lender was triggered after the IMF on Friday announced it had approved a new three-year loan for Kenya valued at $2.34 billion (Sh255 billion) for the Covid-19 pandemic response and to address the country’s debt vulnerabilities.