In Summary
- COTU Warns CS Treasury, Mbadi Against Implementing IMF Directives.
- Secretary General Francis Atwoli voiced concerns about the possible adverse effects of strictly adhering to IMF conditions on Kenya’s economy, particularly the impact on the livelihoods of citizens and workers.
- They advised the National Treasury to be cautious about adopting measures that could exacerbate the economic situation.
The Central Organization of Trade Unions- Kenya (COTU) has issued a warning to the newly appointed National Treasury Cabinet Secretary, John Mbadi, advising him to tread carefully when implementing the International Monetary Fund’s (IMF) economic recommendations.
In a press statement released on Wednesday, COTU Secretary General Francis Atwoli voiced concerns about the possible adverse effects of strictly adhering to IMF conditions on Kenya’s economy, particularly the impact on the livelihoods of citizens and workers.
Atwoli highlighted that previous experiences have demonstrated the harmful consequences of blindly following IMF advice.
“It is the position of COTU (K) that if the new National Treasury Cabinet Secretary adopts a rigid approach and implements 100% of the IMF’s economic and finance adjustments advice, then such an approach will not succeed,” Atwoli stated.
The Central Organization of Trade Unions argues that fully implementing the IMF’s economic and financial adjustments without taking into account the specific local context and needs is likely to lead to failure.
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Why IMF Is Harmful To Kenyans
The organization underscored that the conditions imposed by the IMF often place a heavy burden on citizens, particularly through increased taxes and austerity measures.
COTU warned that these policies could trigger social unrest and widespread protests as Kenyans face worsening economic conditions.
The trade union highlighted that the strict adherence to IMF recommendations risks intensifying social instability and adding to the tax burden on already struggling citizens.
They advised the National Treasury to be cautious about adopting measures that could exacerbate the economic situation.
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COTU urged Mbadi to carefully consider the potential impacts of IMF recommendations on the lives of ordinary Kenyans and advocated for distancing the country from IMF policies, arguing that this would be more beneficial for the nation.
“We call upon the new National Treasury Cabinet Secretary to approach IMF conditionalities cautiously and with a deep understanding of their potential impact on ordinary Kenyans. In fact, the far we stay away from the IMF and its accomplices, the better for this country.” Atwoli added.
