Another Loan For Kenya: Do People At IMF Use Any Common Sense?

Kenyans are furious. Under normal circumstances, they would be celebrating and making merry after their beloved country got a loan from the International Monetary Fund (IMF). Not this time around. Currently, they are angry and frustrated.

It is not new for Kenyans to furious. They are always angry but with the shortest memory in the world. Call it the memory that beats that of a warthog. They will be furious for a minute, forget about it, and move on to the next agenda.

But why are Kenyans angry at the International Monetary Fund? Is it the case of Maskini Jeuri? Maybe. Maybe not. Kenyans are angry because IMF has given Kenyatta, sorry, has given Kenya another loan. Another loan because Kenya is thriving on the wheels of debts.

On Friday, IMF approved a 255 billion shilling loan for Kenya. This is the second loan program from IMF to the country. Now, they expected Kenyans to sing hosanna and halleluja upon receiving the news, but it seems Kenyans aren’t amused.

Read More:

• IMF Approves A 3-Year Ksh 263 Billion Loan To Kenya
• Kenya Used Ksh 250 Billion To Fight Covid-19 By December 2020

The approval was rubber-stamped in Washington DC on Friday. The loan is expected ‘to help the country deal with COVID19 related funding shortages”. The country is expected to see its disbursement totaling to 33.5billion shillings in the next few days.

Kenyans know that IMF is not lending to Kenya but to thieves within the Jubilee government whose main agenda seems to loot every public coin. Kenyans know the loan from IMF will be shared among individuals even before it hist the CBK account.

“The bottom line is that the program will support our COVID-19 response and budget support. It anchors fiscal consolidation through revenue-driven policies which minimize debt vulnerabilities. This is the key element of the program,” said CBK Governor Patrick Njoroge.

Is IMF aware that they are lending money to people who will just end up stealing the same? Why is IMF so determined to lend to Kenya despite the massive corruption that smells all over? Lack of common sense?

Written by Martha Etale and Juma