President Ruto Confers with IMF Chief After Finance Bill Withdrawal Amid Deadly Protests
According to the sources, there was an agreement with the IMF to demonstrate flexibility in program targets.
By Charity Chebusiri
It has now been revealed that President William Ruto spoke by phone with International Monetary Fund (IMF) Chief Kristalina Georgieva following the withdrawal of the Finance Bill, 2024, amid deadly nationwide anti-tax protests.
Two sources confirmed the conversation on the same day the President held a cabinet meeting, during which he instructed the National Treasury to reorganize the budget to address a Sh 300 billion shortfall.
According to the sources, there was an agreement with the IMF to demonstrate flexibility in program targets. One source noted that the government needed to reduce wasteful spending and curb corruption.
A cabinet secretary stated that the decision to cut the budget was made to create balance following the withdrawal of the bill. “Our plan is good and solid, and with time, we shall be vindicated,” said President Ruto during the cabinet meeting.
The IMF has been a target of young protesters in Kenya, who claim it is driving the country’s tax increases. An IMF spokesperson acknowledged the current tragic events and emphasized the organization’s commitment to maintaining constructive dialogue with Kenyan authorities. “Our goal is to help Kenya overcome economic challenges and improve the people’s wellbeing,” the spokesperson said.
According to a government-funded human rights organization, at least 39 people were killed around mid-June during the anti-tax demonstrations.
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