Saturday, October 15, 2022 –The International Monetary Fund IMF African department director, Abebe Selassie, has opened funding taps for William Ruto’s new government.
Abebe expressed willingness to fund Ruto’s government; this being part of efforts by the organization to support struggling nations around the continent.
“We have revolving resources that we need to use to help countries, from those with stronger positions to those in weaker positions,” he said.
The director who was addressing the media on Friday October 15 further disclosed that the funding was purely to spur economy through proper and monitored economic reforms.
“The best help we can provide countries like Kenya is providing financing when access to financing elsewhere is more problematic. Should more financing be needed, we, of course, will look at that,” the official further stated.
The IMF official also clarified that should the new regime ask for a relief to help finance the outstanding public debt, IMF would consider the application and do the necessary.
He was saying this in response to the recent request from Ruto that lenders should consider rescheduling payment terms as well as offer relief to his new government.
IMF has been at the center of controversy from Kenyans who, at some point, petitioned it to stop lending more funds to their government because of runaway corruption.
For instance, during Uhuru Kenyatta’s last term, IMF faced a heavy backlash from netizens who started signing a petition in protest of more loans to the government.
