Wednesday, December 2, 2020 – International Monetary Fund (IMF) has advised the Kenya government to dissolve 100 State corporations, a move that would see 70,000 civil servants lose their jobs.
Appearing before the National Assembly’s Committee on Finance and National Planning on Tuesday, Treasury Cabinet Secretary, Ukur Yatani, said the Bretton Wood Institution has urged him to fire over 70,000 civil servants by Christmas, so as to release crucial funding for budgetary support.
The arrangement, which Yatani said would begin in February, will see Kenya get Sh250 billion in loans from the IMF.
The Treasury boss also said there are parastatals that, despite serving about 10 people a month, continue to incur huge administrative costs, such as paying leases and employees.
“To avoid this … some of the State corporations will be merged, some will be dissolved and some will partner.”
He added, “We are going to work on structural reforms … heavily.”
E! News Blog
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