Kenyans tell IMF to keep their loans.
Kenyans trooped online over the weekend and on Monday to protest over the move by the International Monetary Fund (IMF) to keep lending the government any loans before it accounts for previous ones. The message, please sign the petition trending on every social media platforms.
This comes a week after the Bretton Woods institution signed off a new loan for Kenya worth Sh257 billion. Kenyans on social media are currently accusing the IMF of aiding corruption in the country, some even starting an online petition asking the multilateral lender to cancel the most recent loan.
Kenyans online insist that by advancing loans to Kenyans without demanding accountability, international lenders risk aiding corruption and embezzlement of public funds.
By the end of November last year, Kenya’s total public debt stood at Sh7.2 trillion. Going at the current pace of Sh120 billion per month, it means that debt will be at Sh8.7 trillion by December, and will have crossed the Sh9 trillion mark by June next year.