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Kenyans petition IMF not to give the government loans

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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.

Government defends taking more loans

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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.

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

Source: Africafeeds.com

Sourced from Africa Feeds

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