Kenyans petition IMF to stop loaning country after approval of Sh257bn facility

By BBC On Tue, 6 Apr, 2021 08:49 | < 1 min read
The International Monetary Fund has approved immediate debt service relief for 19 African countries for an initial period of six months. [PHOTO | COURTESY]
The International Monetary Fund has approved an emergency loan for Kenya to cushion its economy from Covid-19 shock. PHOTO | COURTESY

Kenyans have began signing an online petition asking the International Monetary Fund (IMF) not to give the government any more loans citing corruption.

Through the hashtag #StopLoaningKenya, Kenyans have circulated the online petition link while also giving more reasons why no more lending should occur.

The discussion started days after IMF approved a 257bn Kenyan shillings ($2.4bn;£1.7bn) loan for Kenya to aid in Covid-19 response.

Kenya’s public debt has grown tremendously in the last one year as the country grapples with economic slowdown amid Covid-19 pandemic.

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

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

The online petition has continued to attract signatures from Kenyans who have also commented on the IMF social media accounts asking the institution to ask the government to account for previous loans.

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