Launch of the Report on the Impact of the International Monetary Fund (IMF) Fiscal Consolidation Programme on the Kenyan Economy, Livelihoods, and Overall Accountability Framework.

The Institute for Social Accountability (TISA), as part of and the Convenor of the Okoa Uchumi Coalition, has closely been monitoring the escalating public debt crisis in Kenya. Since 2019, Kenya has increasingly been reliant on the International Monetary Fund for loan redemption, with IMF loans growing from Ksh. 49.2 billion as of June 2019 to Ksh. 421.5 billion as of December 2023. This is a situation that demands immediate attention and action. 

This report focuses on Kenya’s case as part of the IMF Fiscal Consolidation programme. It uncovers that the country’s major hurdles are poor governance, theft, and widespread corruption, often not addressed as part of the IMF’s prior actions. These systemic issues have exacerbated the challenges faced by local manufacturers, leading to reduced production, stunted economic growth, and decreased