In a move to address the growing unrest in Kenya, the International Monetary Fund (IMF) has expressed its sincere condolences to the Kenyan people affected by the recent anti-government protests.

The protests, which led to the withdrawal of the controversial Finance Bill 2024, have left a trail of sorrow and pain across the nation.

During a press briefing, IMF spokesperson Julie Kozack conveyed the organization’s deepest sympathy to those who have suffered immensely.

“Our hearts go out to those who have lost their lives, lost loved ones or suffered injuries,” she said.

This message comes as a response to the backlash faced by the IMF from Kenyans who accused the Fund of imposing harsh conditions for the country to secure funding

Despite the criticism, the IMF has defended its position, citing the challenges faced by low-income countries like Kenya in striking a balance between sourcing funds and implementing higher budgetary measures.

Kozack explained that these nations often struggle to raise the necessary revenue to support their budgets, leading them to seek assistance from global financial institutions.

“Many of these countries are experiencing a funding squeeze including on account of tighter global financial conditions and reduced availability of concessional financing.

“Policymakers in these countries including Kenya face a complex balancing act; they have pressing spending needs in priority areas such as social programs, health and education.

“They are managing rising public debt and debt service. They also have the challenge of boosting domestic revenue,” Kozack emphasized.

Kenya has currently received Ksh.503 billion from the IMF to address its economic challenges, a move that has been met with both praise and criticism.

The IMF spokesperson revealed that the organization’s primary goal is to help Kenya achieve sustainable growth, create employment opportunities for its young population, and implement programs to support the less fortunate members of society.

“We are currently working with the authorities to ensure that these objectives can be met and we recognise there’s a careful balance between providing public services and securing adequate financing,” Kozack stated.

“Our program also includes initiatives to improve governance and transparency, responsible use of public funds, safeguard social programs and social spending particularly to protect the most vulnerable members of society.”