One week in office and MBADI is already meeting IMF and begging for more loans – Look! Did we jump from the frying pan into the fire?

Thursday, August 15, 2024 – Kenyans should brace themselves for economic challenges as things are expected to worsen following the latest move by newly appointed Treasury Cabinet Secretary John Mbadi.

This is after Mbadi, together with his Principal Secretary Dr. Chris Kiptoo, met with International Monetary Fund (IMF) representative Mr. Selim Cakir at the Treasury Building, ostensibly to beg for more loans to help them steady the dwindling Kenya’s economy.

“The IMF continues to play a crucial role in supporting Kenya's economic stability and development,” IMF representative to Kenya Selim Cakir stated after the meeting.

This comes even as Kenyans have warned Mbadi not to trust the IMF, accusing it of giving Kenya loans with stringent conditions which have led to increased taxes and a high cost of living.

Led by COTU Secretary General Francis Atwoli, the leaders have also cautioned Mbadi not to implement IMF conditionalities blindly.

It shouldn’t be lost on us that the IMF and World Bank were among the reasons Gen Zs went to the streets to protest, forcing President William Ruto to drop the draconian Finance Bill 2024, which had all the imprints of the IMF and World Bank in it.

The Kenyan DAILY POST