Thursday, August 15, 2024 - COTU Secretary General Francis Atwoli has warned the newly appointed Treasury Cabinet Secretary John Mbadi to tread carefully with the International Monetary Fund (IMF), or else he risks messing up the country like his predecessor Njuguna Ndung’u.
This comes after Mbadi held a meeting with the IMF Representative in Kenya, Selim Cakir.
The meeting took place ahead
of the anticipated disbursement of over Ksh181 billion from the IMF.
In a statement, Atwoli cautioned
Mbadi not to follow IMF's advice blindly as the advice could lead Kenya down a
perilous path, exacerbating the financial strain on ordinary citizens.
According to Atwoli, this
financial injection comes with strings attached and the potential implications
of these conditions could be devastating for the country’s economy.
“Following the IMF's advice
without scrutiny has led to adverse effects on the citizenry and workers,”
Atwoli stated, cautioning Mbadi to balance the IMF interest against the welfare
of Kenyan citizens.
He asserted that such a balanced
approach is necessary to prevent economic policies from becoming a burden on
the population.
The veteran trade unionist
further warned that IMF conditionalities often involve harsh austerity
measures, including increased taxation, which could trigger widespread social
unrest.
“IMF conditionalities often
involve measures that place undue financial strain on the citizenry, primarily
through increased taxation and so-called austerity measures,” Atwoli stated.
He cautioned that these actions
not only lead to social unrest but also ignite demonstrations as citizens
grapple with the negative impacts on their livelihoods.
In a strong message to Mbadi,
Atwoli advised that the new Treasury CS should approach IMF conditionalities
with caution and a deep understanding of their potential impact on ordinary
Kenyans.
“The far we stay away from the
IMF and its accomplices, the better for this country,” Atwoli stated.
The Kenyan DAILY POST
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