David Ndii schools Kenyans on the type of IMF loan gov't took

IMF is not here for fun - David Ndii

Economist David Ndii

Popular Economist and political commentator David Ndii on Tuesday gave details on the International Monetary Fund (IMF) loan the Kenyan government took.

Kenyans launched a petition to the IMF seeking to have the Sh255 billion loan recalled.

While breaking down the aspects of the loan, Mr Ndii pointed out to Kenyans on Twitter (KOT) some of the conditions which come with the loan.

"Dear young #KOT The IMF loan Kenya has taken is called a structural adjustment loan (SAPs). It comes with austerity (tax raises, spending cuts, downsizing) to keep Kenya creditworthy so that we continue borrowing and servicing debt. IMF is not here for fun. Ask older people," the Economist outlined.

He further attached an excerpt which went into further conditions which touch on governance.

"It aims to reduce debt vulnerabilities through a multi-year fiscal consolidation effort centered on raising tax revenues, and tightly controlling spending, safeguarding resources to protect vulnerable groups.

"It will also advance the structural reform and governance agenda, including by addressing weaknesses in some state-owned enterprises and strengthening transparency and accountability through the anticorruption framework," the excerpt read.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

At 40 years, I began studying law - Interesting story of Danstan Omari

At 40 years, I began studying law - Interesting story of Danstan Omari

Ruto decides fate of 1.27 million Junior Secondary students

Ruto decides fate of 1.27 million Junior Secondary students

Treasury bows to MPs' demand to disburse NGCDF funds

Treasury bows to MPs' demand to disburse NGCDF funds

Inside Famous US actor's plans to open luxury hotel in Kenya

Inside Famous US actor's plans to open luxury hotel in Kenya

TransferGo expands money transfer service to Africa; launches in Ghana & five other countries

TransferGo expands money transfer service to Africa; launches in Ghana & five other countries

Details of Ruto's meeting with Atwoli at State House

Details of Ruto's meeting with Atwoli at State House

Parliament committee recommends suspension of 4 IEBC commissioners

Parliament committee recommends suspension of 4 IEBC commissioners

Hustler Fund: How much Kenyans borrowed hours after launch

Hustler Fund: How much Kenyans borrowed hours after launch

Matatu saccos win 1st round against Sakaja in battle for Nairobi CBD

Matatu saccos win 1st round against Sakaja in battle for Nairobi CBD