AfricaPress-Kenya: A petition by Kenyans to have the latest Ksh255 billion loan from the International Monetary Fund (IMF) revoked has made it to the international headlines.
Germany’s international broadcaster, Deutsche Welle, popularly know as DW on Tuesday, April 6, highlighted the story noting that Kenyan residents were aggrieved by some of the government projects which had been marred by corruption.
“Is there any logic to the IMF giving loans to governments, which have demonstrated a clear lack of accountability processes? the media outlet posed.
Further, DW questioned whether Kenyan citizens would have wanted to be issued with loans if the money was properly managed – prompting quick reactions.
“If they spend prudently, benefitting everyone then yes!! For now, we don’t want any loan to benefit politicians and their relatives.
“No more loans should be given to the Kenyan government. It uses the money for endless politics and uses media to post begging headlines of poverty to the foreign countries seeking more money n loot them all. It’s a scam to give donations or loans,” a user by the name Delia noted.
The hashtag #stoplendingKenya has been trending since Sunday, April 4, with residents claiming that the funds are only meant to benefit specific people who have direct access to the government.
Renowned economist and political strategist Dr. David Ndii explained that the petition does not hold the power to refrain or cancel IMF from giving Kenya the loan.
“IMF acts for creditors, it doesn’t act for Kenyans. For instance, if a bank sends a receiver-manager to your business you don’t start telling the receiver-manager what they can or can’t do.
“I have been telling Kenyans that IMF is not here to help us, in fact when you see IMF it spells trouble since it’s usually a sign that a country has hit rock bottom in terms of their debt situation,” Ndii stated.