Kenya to bag another Sh.257 billion IMF loan amid public uproar

By James Macharia

Despite outcry by over 150,000 Kenyans who have so far submitted their signs in a petition meant to bar the release of sh.257 billion loan by International Monetary Fund(IMF),the state remains relentless in pursuit of the kitty.


Jefferson Murrey, the leader of the petitioners amongst others are against the loan, on grounds of previously wasted money by the government borrowed in the name of aiding development projects.


The group has also faulted the state for being unaccountable for the lost money,saying that more borrowing will only deal more and heavier burdens on the already weary Kenyans.

“This petition is in recognition of the fact that previous loans to the Kenyan government have not been prudently utilized and have resulted in mega corruption scandals,” said Murrey, the organiser of the petition.


IMF affirmed the release of the Sh.257 billion loan on Friday, summing to a total of Sh.1.2 trillion under Uhuru’s tenure in one year alone.

Sources reveal that in a between the months of March and November, a span of 7 months, Kenya has borrowed Sh.971 billion, translating to Sh.121 billion borrowed each month.


A report by Auditor General Nancy Gathungu last year revealed how Sh.2.3 billion went to waste in the name of procuring Kenya Medical Supplies Authority(KEMSA)kits. In the scandal, numerous companies benefitted from the kitty, some of which were granted tenders without application.

Others won the tender just few weeks after registration.


But even after investigation, nothing visible has been done to the fraudulent beneficiaries of the KEMSA graft.
President Uhuru Kenyatta rubber-stamped this by admitting that the country loses Sh.2 billion a day to graft.

Conversely, he has shown zero attempts of counter fighting corruption.


Angry Kenyans grew furious in social media on Tuesday saying that the East African country is overburdened with loans.

“Stop lending money to (the) Kenyan government because it ends up in few corrupt pockets. No change in living standards of the common citizens,” said Mwihaki Mwangi, a social media activist.


“Why are you approving loans to this irresponsible government of Kenya? You are sinking our economy deeper,” said another Facebook user.


Defending the move of borrowing by state, Treasury Cabinet Secretary, Ukur Yattani, has said that it will be so paramount if the loan goes through and that it will help Kenyans a great deal in the wake of the Covid-19 pandemic. The first disbursement from the loan of Sh.33.7 billion is to be immediate then the second one of Sh.44.2 billion to be ripe for release by June 30.


Soon after the signatories are enough, the resulting letter may be delivered to the subject of the petition by e-mail.

However, neither the IMF nor the Kenyan government has responded to the petition.

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