In 1988 my country entered into IMF, and from so on IMF was pushing our country and bring us into a position of deflation, and now make us suffer for the loan, As she mentioned IMF is not only meeting with govt entities but also with businesses, anti-corruption and NGOs unfortunately this is not in our country. There is no such Policy advice, not proper analysis, the loan is on the basis of geopolitics. These actions have no effect on Govt and elites but it effects the people of middle and lower class and making uncertainty and fear.😢
Please explain to the Kenyans why you lend money that Politicians eventually steal. The Citizens end up with a debt that was not used to benefit the people. IMF has failed miserably. IMF is the problem, not a solution. You're advancing poverty policies in Africa. Corruption, nepotism, and enslavement of the people are what you're selling.
The IMF is the lender of last resort to countries that have a balance of payment issue. Imports are far greater than exports, leading to $$$ scarcity because of trade is denominated in $. Because international investors refuse to lend $ the role of IMF is to support countries that need $, good side😊. However, the bad side comes when they impose policies that are limiting economic growth ( Austerity) , higher taxes leading to an increase in poverty, unemployment, and so on... all of it because the indebt contry need to pay back the loan gigen. I wish to give you an example with a country that has been helped by the IMF and managed to pay the debt, and after continuing economic growth😢
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