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
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