By Jacob Oketh

The anger with which the ordinary Kenyan out there has reacted to the IMF loan approval to Kenya is unprecedented. A section of Kenyans have even gone to the extent of launching an online campaign to reverse the approval. That move has elicited varied reactions but the big question is, is this latest move by the government to shore up her revenue by going for the loan justified?

It is a complex question considering the varied levels of understanding of Kenyans across the country. Not many Kenyans are well versed with how the economy operates. But one thing is clear; this ordinary Kenyan is aware of the massive loot and wastage of public resources. All else is subordinate to this-as far as this ordinary Kenyan is concerned. It therefore follows -for this ordinary Kenyan-that there is no need to borrow more money-if at the end of the day-it is going to be looted and wasted.

COVID 19 pandemic has radically changed the way governments operate economically. The massive economic loss-particularly to developing nations-has necessitated that additional resources be sought to manage the pandemic and jump start economies that have been hit the hardest. I don’t know what we would have done without the additional funds that the government got from the international community.

Looking at the history of external borrowing-it is very clear that the Jubilee administration has borrowed more than any other government. Indeed the many infrastructure projects dotting the country are an expensive undertaking and one can appreciate where the bulk of the funds that we borrow go to. We may not see the immediate benefits of these ventures but they are long term measures that will immensely transform the country’s economy.

But there is the issue of accountability that has triggered the aggressive reaction from Kenyans following this latest loan deal. How can ordinary Kenyans-as mandated by the Preamble of the constitution-own the process of acquisition of loans by the government?Isnt it time we enacted a bill in parliament-that vests authority with the people of Kenya-on how much and when we ought to borrow money from foreign sources?

There is the firm belief, among certain African leaders, that Africa can do without foreign aid. The late Tanzanian president Dr John Pombe Magufuli was one of them.Indeed, he is on record as having managed Tanzania with very little foreign aid, if any. This is something that captured the attention of our own president Uhuru Kenyatta and he said as much-at Magufuli’s state funeral. Going forward-at least after the pandemic-Kenyans ought to start thinking of ways of minimizing foreign aid-just as Tanzania has done.

The most annoying thing is that-even at the height of the pandemic-there are people who have stolen money meant to save lives. The KEMSA tender scandal that cost the government billions of shillings shocked Kenyans. If people can steal money meant for saving lives-what would they spare? It is hard for the government to convince the public that the money she is borrowing now-will not go down the drain-the same way the COVID19 funds and others have been misappropriated.

The level of corruption in the country continues to undermine our development agenda at every turn. It was shocking to say the least-to hear the president say that we lose two billion shillings everyday as a result of corrupt activities. How can a country with a fully functional anti corruption body fair so badly? Kenyans are helpless-What must be done to slay the dragon of corruption? When citizens cannot feel the positive effects of development-and yet they see massive wastage-they tend to question the rationale of borrowing more money-because they feel burdened-as taxpayers-yet they do not benefit from the transaction.

Kenyans-like the rest of the world-are facing a very hard time. When the pandemic broke-the government announced stimulus packages for various cadres of Kenyans. These measures were removed when the country experienced the first flattening of the curve. With the subsequent waves, Kenyans have striven to get back to their feet. Just when they are about to come even- the president issues stricter measures to contain another more virulent wave-and without relief measures-yet they hear of a plan to borrow more money. Then fuel prices are raised-for the same ordinary Kenyan.

When the government squeezes money from the citizenry-and yet-restricts their movement because of the pandemic-it is only fair that some form of stimulus package should be provided for all those in distress. If the US is providing a stimulus package for her most affected citizens-yet it is a rich country-then you can appreciate the magnitude of the problem the ordinary Kenyan is facing.

At this time the country is battling the pandemic, we need all the money we can get. Nonetheless-Kenyans need a commitment that the money will be put into good use. Kenya relates with IMF in multiple ways and the latter’s approval of the loan must have been after a careful appraisal of the situation. Strict spending regime must be established for these funds.

It is easy to say that we can do away with foreign aid. But unless we are ready to put in the work-get rid of corruption and avoid wastage-foreign aid will be here to stay-until we can summon the courage to spend our resources prudently-so as to achieve economic independence. In any case-no country is entirely independent of aid. The question is what do you do with that aid?

The writer is the author of Aphorisms and Poems of Light

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