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The Kenya Forum | Kenyans Petition IMF to Stop Loaning Government Over Ballooning Public Debt and Mismanagement of Funds - The Kenya Forum

April 6, 2021

Summary

“Right now Kenyans are choking under the heavy burden of taxation, with the cost of basic commodities such as fuel skyrocketing nothing to show for the previous loans,”

More by Winnie Kabintie

Kenyans Petition IMF to Stop Loaning Government Over Ballooning Public Debt and Mismanagement of Funds

Kenyans Petition IMF to Stop Loaning Government Over Ballooning Public Debt and Mismanagement of Funds

Kenyans have filed a petition to the International Monetary Fund (IMF), asking that the body cancels the KSH 255 billion loan to Kenya, and further stops extending any loans to the current government over lack of accountability and mismanagement of funds.

“Dear IMF”

According to the petition filed to the IMF Board by a concerned Kenyan Citizen by the name Jefferson Murrey, the Kshs.255 billion loan IMF recently approved to the Kenyan government has left many Kenyans “stunned and appalled” because previous loans have not been prudently utilized and have often resulted in mega corruption scandals”.

“Right now Kenyans are choking under the heavy burden of taxation, with the cost of basic commodities such as fuel skyrocketing nothing to show for the previous loans. Our President, Uhuru Kenyatta, is even on record lamenting that Kshs.2 billion is lost daily to corruption in Kenya. The same President recently approved a luxury car grant bribe to get junior lawmakers to pass controversial changes to the Constitution, punching another hole on an already shoestring budget,” the petition reads in part.

COVID Billionaires

The petition further cites the blatant theft of Covid-19 funds, saying the government is yet to account for the funds misappropriated during the first wave of the pandemic in 2020.

“Some of the President’s close associates have been adversely implicated in the so-called “Covid Billionaires” scam, where billions of shillings from international donors was lost in irregular tenders for PPE at the height of the first wave of the Covid -19 pandemic. Nothing ever came out of the President’s commissioned probe into the scam,” the petition further states.

KSH 255 Billion

The petition, which has attracted a lot of attention on social media and has been trending under the hashtag #SignThePetition and #IMF, is calling on the IMF to suspend the disbursement of the loan package it recently approved until proper accountability mechanisms to ensure it will be prudently managed and accounted for are put in place.

“The IMF can, and should, do the right thing. Withhold the funds until the next, hopefully, more accountable, the government is elected into office next year” the petition says.

113,772 Kenyans have already signed the petition by the time this article was published and some have even contributed money to advance the cause.

Among prominent Kenyans who have signed the petition is the President of the Law Society of Kenya (LSK) Nelson Havi and Senator Ledama Olekina.

Kenya’s alarming 7 Trillion Public Debt

Kenya’s public Debt is racing past 7 trillion and the Covid-19 outbreak has seen the government borrow more to support its response to the health pandemic.

Kenya’s public debt began to swell at an alarming rate from the year 2013 due to increasing government spending plans, forcing it to take loans to support the budget.

SIGN THE PETITION HERE

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