The impact of the IMF Fiscal Consolidation Programme in Kenya: An Economic and Human Rights analysis.

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 relied on the International Monetary Fund
(IMF) 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
that began in April 2021. 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 incomes for those in the formal and informal sectors due to suffocating
taxation policies.