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.
The IMF Executive Board has approved a three-year financing package of US$2.34 billion to support Kenya’s pandemic response and economic reform program. More here: https://t.co/zsMzCe2szY #IMFAfrica pic.twitter.com/iwa37ncaEK
— IMF (@IMFNews) April 2, 2021
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
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.
To all the organisations loaning Kenya, prepare to come source for your funds from the pockets of those you are dealing with. Kenyans will only pay for the small portion they consume.
The only favour we may grant you is point you to their land, hotels, banks etc#stoploaningkenya
— Aaron Cheruiyot (@Aaroncheruiyot) April 5, 2021
I am learning that many #KOT are same Wozzap with Jayden. They can’t seem to wrap their minds around the reality that if you borrow and squander a huge sum of money, there may be no deep pocketed mother to clean up after you. #StopLoaningKenya
— David Ndii (@DavidNdii) April 5, 2021
— Prof. Alfred Omenya (@aomenya) April 5, 2021
Take this as the last warning!
If you guys can’t stop loaning kenya, we will storm your offices in Nairobi and beat everyone in that office since none of your employees is sensible. You’re directly responsible for corruption & huge debt in kenya. #stoploaningkenya pic.twitter.com/xwRvXLskfr
— Valentine Mwamburi (@ValentineMwamb3) April 5, 2021
— Levito mzazi (@Levitomzazi) April 4, 2021