Kenyans Writes IMF To Stop Loaning Their Country

Kenyans Writes IMF To Stop Loaning Their Country
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Kenyans have begun signing an online petition asking the International Monetary Fund (IMF) not to allow their Government the opportunity to borrow more loans citing corruption.

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

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

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

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.

AFRICA DAILY NEWS, NEW YORK

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