Kenyans Camp at IMF Social Media Page, Ask Lender to Stop Loaning Kenya: "Leave Us Alone"

 

IMF managing director Kristalina Georgieva. 

Kenyans online have started protests against the International Monetary Fund (IMF) days after the financial institution backed the proposed taxes in the Finance Bill 2024. IMF managing director Kristalina Georgieva. The institution is under pressure to stop loaning Kenya.  Why did Kenyans camp at the IMF page?  Frustrated netizens started lamenting on IMF's X page on Monday, June 17, a day before Members of Parliament (MPs) began debating the contentious bill.  On Tuesday, June 18, netizens asked the lender to stop lending to Kenya and condemned the Bretton Woods institution for negotiating multi-billion loans with President William Ruto. The outcry, marked by the hashtag #RejectFinanceBill2024, showed the widespread frustration among citizens who argue that continuous borrowing increases the national debt and leads to austerity measures that strain the public. How did Kenyans react? TUKO.co.ke sampled some comments: @OtienoIan_: "Leave Kenya alone." Agah: "We reject the finance bill." Paul Maina: "We, as Kenyans, are tired of your oppressive taxes." @mamushkajay5511: "We have fired this person (William Ruto); we don't know him. Any agreement between you and him is on a personal level and not on behalf of the Kenyan people."  @kibet_jay: "We, the people of Kenya, order you to stop engaging our greedy and corrupt politicians in making stupid financial decisions that are going to hurt our people for generations to come. Focus your oppressions elsewhere. All due respect, concerned Kenyan." What did the IMF say on Finance Bill 2024? Despite public criticism, the IMF supported the government's planned tax adjustments in Finance Bill 2024. It noted that increasing taxes was necessary to raise more revenue to finance the 2024-2025 financial year budget. The IMF explained that despite positive developments, a significant shortfall in tax revenue collection in the 2023/2024 financial year will keep domestic borrowing elevated. 

by  Japhet Ruto