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Don't Lend Our Government, Debt-Weary Kenyans Demand of IMF

Don’t Lend Our Government, Debt-Weary Kenyans Demand of IMF
Bloomberg
2 hrs ago
Adelaide Changole
© Bloomberg
Motorcycle taxi drivers wait on the corner for passengers as Samsung Electronics Co. advertising hoardings cover a building beyond in downtown Nairobi, Kenya, on Thursday, April 23, 2020. Kenya's economic growth could slow to as low as 1% this year as effects of the coronavirus pandemic take a toll on businesses and revenue, according to the National Treasury Secretary Ukur Yatani.
(Bloomberg) -- The International Monetary Fund has walked into a storm of social-media criticism after approving a $2.34 billion three-year financing package for Kenya.
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“Previous loans to the Kenya government have not been prudently utilized and have often resulted in mega-corruption scandals,” according to one petition created on April 4 that had about 232,000 signatures by Friday morning. “The IMF can and should do the right thing: withhold the funds until the next, hopefully more accountable, government is elected into office next year.”

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