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IMF Says It Approved Big Loan For Kenya to Fight Corruption

by Robert Mwangi
2 mins read

Is that Kenyans don’t know the meaning of “fighting corruption” or someone is testing their patience?

That Kenya is one of the most corrupt countries in Africa is an open secret.

From Auditor General’s disturbing reports to President Uhuru Kenyatta’s admission last year that Kenya loses at least Ksh2 billion daily to graft.

Kenyans are up in arms against the International Monetary Fund (IMF) after it approved yet another multi-billion loan for Kenya.

On Friday, 2nd February, the Washington-based lender said the Kenyan government will secure Ksh257 billion through a 38-month programme.

The initial disbursement of Ksh33.7 billion was made immediately while the Ksh44.2 billion will be given before June 30.

In a statement, IMF said the main goals for the loan programme are:

1️⃣ Support pandemic response
2️⃣ Help reduce debt vulnerabilities
3️⃣ Address weakness in state-owned enterprises
4️⃣ Support anti-corruption framework.

It was unbelievable to many that the international lender was loaning Kenya to try and eliminate corruption, which is deeply rooted.

Angry netizens took to social media to register their frustrations.

A petition to demand IMF to stop giving the billions to Kenya was launched online. As at this moment, over 60,000 kenyans have signed the petition.

A majority of Kenyans argue that the money will be stolen.

From the time the loans was approved, agitated social media users are camping at IMF social media pages to rebuke it even in unrelated posts.

A person by the name Alice Kemunto had serious questions to IMF in regard to the goals cited above.

“Dear IMF, Are you serious? No. 4.
How? Anti corruption agency has failed. No.3.
How when we are already tired of the looting in state owned enterprises? No. 2.
How? By increasing our debt ? No. 1
We are afraid. This might give birth to Covid-19 trillionaires,” she said.

Bravin Yuri said: “Dear IMF, I believe your organization doesn’t endorse corruption but by lending money to the Jubilee administration, you’re funding corruption. The President confessed his government steals ksh. 2B daily. Stop funding corruption.Yours Truly, Concerned Kenyan.”

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