Why Kenyans Fear a New IMF Loan
The terrible impact of past IMF loans has made it clear to many Kenyans that yet another loan spells disaster.
Pictured above is Central Bank of Kenya. Due to COVID-19, Kenyans have been protesting online against IMF loans.
World2 hours ago
Never did I imagine that opposing an International Monetary Fund (IMF) loan to Kenya would be viewed by the Kenyan authorities as a criminal act. But that is exactly what transpired in early April when activist Mutemi Kiama was arrested and charged with âabuse of digital gadgetsâ, âhurting the presidencyâ, âcreating public disorderâ and other vaguely-worded offences. Mutemiâs arrest was prompted by his Twitter post of an image of President Uhuru Kenyatta with the following caption: âThis is to notify the world . . . that the person whose photograph and names appear above is not authorised to act or transact on behalf of the citizens of the Republic of Kenya and that the
The East African
Monday March 15 2021
Kenya is considering tapping into the international capital markets with a fourth Eurobond issue to help pay off part of its debt obligations. PHOTO | FILE | NMG
Summary
This comes against a backdrop of weaker credit rating by global rating agencies pointing out that Kenyan tax payers will have to dig deep into their pockets to service the planned loan.
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Kenya’s National Treasury is considering tapping into the international capital markets with a fourth Eurobond issue in less than seven years to help pay off part of its debt obligations estimated at Ksh925 billion ($8.48 billion) in the next three months.