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Saturday, July 15, 2023 –International funders have responded to Kenya’s latest claims that there are deficiencies in the manner they have been carrying out their activities to developing nations.
For instance, the International Monetary Fund IMF, on Friday, July 14, through its Director of Strategic Communication, Julie Kozack, argued that the organization has been on the forefront supporting every nation in a manner that met international standards.
She outlined past financial intervention to Kenya and other African nations saying this should be something to be recognized by leaders from those countries.
She urged those criticizing their involvement in developing nations to learn to look at the broader picture of the past work done to many developing nations.
Kozack also noted that heads of state from Africa have to look at the IMF’s work deeper to gather the real work load the organization has carried out over the years.
She pointed out the recent COVID-19 pandemic which she said cost her organization billions of dollars to fight the crisis.
Kozack further added that, todate, her organization is still funding post-pandemic effect across the globe.
“I think, more broadly speaking, many countries and many regions of the world have navigated difficult transitions before, and the IMF has, typically, been part of that global response to these difficult transitions that countries have faced.
“Since March 2020, we have approved over Ksh42 trillion (USD 300 billion) in financing for 96 countries,” she explained.
The IMF Director reminded Africa leaders that, with the changing financial trends and landscape, the organization was also working out on formular of readjustment to fit in today’s financial schedule.
President William Ruto, of recent, has sustained an onslaught against the global financial institutions including World Bank and the IMF, which he claims have been shortchanging developing countries Kenya included.
He, therefore, proposed an alternative robust system that could give nations like Kenya a fair financial platform.
