Friday, April 12, 2024

Kenyans petition IMF not to give the government loans

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Elvis Adjetey
Elvis Adjetey
Elvis Adjetey is an experienced African journalist who has worked with top media brands in Ghana where he is based.

Kenyans are signing an online petition to ask the International Monetary Fund (IMF) not to give the government any more loans.

Through the hashtag #StopLoaningKenya, Kenyans have circulated the online petition link which cites corruption and other reasons why no more lending should occur.

The development follows the IMF’s approval of 257bn Kenyan shillings ($2.4bn) loan for Kenya to aid in Covid-19 response.

Analysts say Kenya’s public debt has grown by more than 1 trillion shillings in the last one year.

Kenyans online have quoted President Uhuru Kenyatta’s statement that the country loses two billion shillings daily to corruption.

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Government defends taking more loans

But the country’s Treasury Secretary Ukur Yattani has defended the loan, saying it was important for the recovery of the economy that was badly hit by Covid-19.

Some Kenya’s are also using the online petition to put pressure on the IM to ask the Kenyan government to account for previous loans.



Ghana’s finance minister says Africa deserves more help for Covid-19



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