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The IMF has apologized to Kenya for the impact of recent anti-government protests, which led to the withdrawal of the contentious Finance Bill 2024.
During a press conference, IMF spokesperson Julie Kozack expressed deep sympathy for Kenyan youth who suffered losses or injuries during the protests.
She also addressed criticisms from Kenyans regarding IMF conditions for funding, emphasizing the challenges faced by low-income countries like Kenya in balancing financial needs and budgetary constraints.
Kenya has received Ksh.503 billion from the IMF to tackle economic issues. Kozack highlighted the difficulties these countries face in securing funds while implementing necessary budget measures, often resorting to borrowing from global financial institutions.
“Our heartfelt condolences go out to those affected by recent tragic events in Kenya. The broader challenges faced by many of our low-income members, including Kenya, reflect global financial pressures and reduced access to concessional financing,” Kozack stated.
She emphasized the IMF’s commitment to fostering sustainable growth in Kenya, creating jobs, and supporting vulnerable groups through transparent governance and responsible fiscal management.
“We are collaborating closely with Kenyan authorities to ensure our shared goals are met, recognizing the delicate balance between public service provision and financial stability,” Kozack concluded.
