A petition from TBEN calling for the revocation of the last Ksh 255 billion loan from the International Monetary Fund (IMF) has made international headlines.
German international broadcaster, Deutsche Welle, popularly known as TBEN on Tuesday April 6, the story pointed out by noting that Kenyan residents were being harmed by some of the government projects that had been marred by corruption.
“Is there any logic in the IMF granting loans to governments, which has demonstrated an obvious lack of accountability process?
Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF).
Further, TBEN wondered whether Kenyan citizens would have wanted loans if the money had been properly managed – prompting quick reactions.
“If they spend prudently, for the benefit of everyone, then yes !! For now, we don’t want any loans to benefit politicians and their families.
“No more loans should be given to the Kenyan government. It uses the money for endless policies and uses the media to publish headlines about poverty to foreign countries looking for more money and plunder them all. donation or loan giving is a scam, ”a user named Delia noted.
The #stoplendingKenya hashtag has been in fashion since Sunday, April 4, with locals saying the funds are only intended for specific people who have direct access to government.
Renowned economist and political strategist Dr. David Ndii explained that the petition did not hold the power to refrain or cancel the IMF from granting the loan to Kenya.
“The IMF is acting for creditors, it is not acting for TBEN. For example, if a bank sends a receiver-manager to your business, you don’t start telling the receiver-manager what they can and cannot do.
“I told the TBEN that the IMF is not there to help us, in fact when you see the IMF it creates problems because it is usually a sign that a country has bottomed out in terms of debt situation, ”Ndii said.
Economist and political activist David Ndii