The International Monetary Fund (IMF) has finally responded following weeks of being blasted for being behind Kenya's tax increase proposals that have angered the population causing recent widespread protests. 

In a statement, IMF Spokesperson Julie Kozack said Kenya was facing similar economic challenges and financial constraints as other low income countries.

"So turning to Kenya, let me start by expressing our deepest sympathy to the people affected by the tragic events in Kenya, our hearts go out to those who have lost their lives, lost loved ones or suffered injuries," Kozack said.

She indicated that the situation was not unique to Kenya, according to data in IMF's possession.

"I think it's important to say that the situation in Kenya reflects broader challenges facing many of our low-income members. Many of these countries are experiencing a funding squeeze, including on account of tighter global financial conditions and reduced availability of concessional financing," she explained.

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Kozack also said Kenya faces a complex balancing act on its spending and debt just like many other nations in similar economic conditions.

Policymakers in the government have been grappling with how to best balance Kenya's spending needs in areas such as social programmes, health, and education, while better managing the rising public debt and debt service.

Additionally, boosting domestic revenue has remained a significant challenge for Kenya.

Kozack says the IMF’s loan facility with Kenya seeks to enable the country navigate the rough economic times it faces towards sustainable growth. 

"At the goal of our IMF-supported programme is to help establish sound macroeconomic fundamentals. And these are crucial for fostering sustainable and inclusive growth in the country, crucial for generating jobs for the Kenyan people, including Kenya's young population," Kozack noted.

She also reiterated IMF's commitment to work with the President William Ruto administration to ensure these objectives are met.

"We are currently working with the authorities to ensure that these objectives can be met. And we recognize that there's a careful balance between providing public services and securing adequate financing," she stated.

The programme, according to IMF, also seeks to enhance transparent and prudent use of public funds. 

"Our programme also includes initiatives to improve governance and transparency and to ensure responsible use of public funds to safeguard social programmes, in social spending particularly to protect the most vulnerable members of society," Kozack emphasized.

IMF has challenged to consult widely and engage the public in adopting policies that are part of structural adjustments mooted by the Bretton Woods institution as conditionalities for budget supports 

"It's also important that these policies that are under discussion go through a process of broad consultation so they can gain broad public support.

"We remain committed to supporting Kenya in its effort to achieve inclusive growth. At every programme of review, we do take the opportunity to assess developments and make adjustments, considering the evolving circumstances."

In conclusion, Kozack expressed confidence in finding a balanced path forward with Kenya.

"And that's exactly what we're doing in our active and constructive discussion with the Kenyan authorities. And we're confident that we will be able to find a balanced path forward with Kenya," she concluded.

IMF has been on the receiving end of a barrage of attacks from an angry Kenya public accusing it of being behind the ever-increasing taxes being pushed by Ruto ostensibly to help reduce Kenya's debt burden. 

This comes a week after President Ruto was forced to withdraw the contentious Finance Bill 2024 following public protests to Parliament opposing numerous tax-hike proposals therein. 

The beleaguered Head of State has instead vowed to adopt various austerity measures and a lean cabinet after sacking his entire cabinet as demanded by young protesters.