Sign in
Download Opera News App

News Politics




Africa politics

Mudavadi Tells Treasury To Reveal To Kenyans Conditions Attached To The IMF Loan

Amani National Congress( ANC) party leader Musalia Mudavadi said that he wants the National Treasury to disclose conditions that are attached to the loan the government is getting from the International Monetary Fund( IMF).

He insisted that the disclosure will enable Kenyans plan and prepare for the implications that come with it.

" Kenya is a higly indebted country with the Covid- 19 pandemic, the situation has become dire. Therefore, to get out of the abyss, the government is better off with the IMF on our side than against us," he added.

Mr. Mudavadi spoke when the government secured a Sh 257 billion loan from the IMF.

This adds on to the country's balloning public debt that currently stands at sh 7.2 trillion according to the National Treasury.

The loan is to be distributed and is used for the 2020/2022 budgetary support programme that invlude Covid- 19 interventions.

Kenya has been able to acquire this loan as it is a member of the IMF and for it to aquire this loan it must satisfy conditions including reduction of the size of the civil service to cut high wage bills, privatization and restructuring of the state corporations and parastatals.

Mudavadi said that reducing the size of the civil service will lead to job losses and restructuring of state corporations and parastatals requires legislative changes hence the need to ensure support from the people.

Content created and supplied by: Pinnews (via Opera News )

Amani National Congress( IMF Kenya Kenyans Musalia Mudavadi


Load app to read more comments