COTU boss FRANCIS ATWOLI warns Treasury CS JOHN MBADI against going to bed with IMF like RUTO

Thursday, August 15, 2024 - Central Organization of Trade Unions (COTU) Secretary General Francis Atwoli has warned newly appointed Treasury Cabinet Secretary John Mbadi against implementing International Monetary Fund (IMF) conditions.

In a statement on Wednesday, Atwoli expressed concern that strict adherence to IMF conditions could negatively impact Kenya's economy, particularly affecting citizens' and workers' livelihoods.

Atwoli pointed out that past experiences have shown the detrimental effects of blindly following IMF advice. 

The organization cited former President Mwai Kibaki's regime, which took a balanced approach to IMF recommendations while keeping citizens' welfare as a top priority.

According to COTU (K), implementing 100% of the IMF’s economic and financial adjustments without considering the local context and needs would likely result in failure. 

"It is the position of COTU (K) that if the new National Treasury Cabinet Secretary adopts a rigid approach and implements 100% of the IMF’s economic and finance adjustments advice, then such an approach will not succeed," Atwoli said on Wednesday. 

The Kenyan DAILY POST