What Kenya’s deadly protests are really about
(www.vox.com)
from jeffw@lemmy.world to world@lemmy.world on 30 Jun 2024 01:39
https://lemmy.world/post/17064635
from jeffw@lemmy.world to world@lemmy.world on 30 Jun 2024 01:39
https://lemmy.world/post/17064635
#world
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Basically about austerity from what I am seeing: standardmedia.co.ke/…/what-ruto-must-do-to-keep-a…
capitalfm.co.ke/…/malema-backs-anti-finance-demos…
China can lend on whatever terms China wants to, but isn’t the IMF supposed to sanity-check spending when a country comes to them for money, and reject loans if they aren’t going to produce a return?
kagis
www.imf.org/en/About/…/IMF-Conditionality
So, I’d think that at least one of three things happened here:
The IMF’s requirements weren’t sufficiently-strong.
The IMF’s requirements weren’t actually enforced; Kenya did something else with the money.
Something unforeseeable happened (I assume that COVID-19 might have been a factor, as that impacted economies elsewhere).
reads further
Well, okay, but taking anticorruption actions can be a requirement of loans. Maybe the government has to decide whether they want to keep those connected people happy or get a loan.
looks back at IMF factsheet
They even list that as a condition that they can impose:
www.imf.org/en/About/…/IMF-Conditionality