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HOW THE IMF KEEPS AFRICANS POOR!
Financial rights activist Alex Gladstein dissects the IMF’s African operations in this video. Drawing on the case of Zaire (now the Democratic Republic of Congo), he reveals a pattern of the IMF appointing its own officials to oversee African treasuries, fostering export-led economies, devaluing local currencies and striking deals with dictators.
This is the same playbook allegedly at work in Kenya. Protesters accuse the government of destroying the country’s future by selling out to the IMF’s neocolonialist agenda. Kenya’s tech-savvy and well-educated Gen Z is leading the charge against financial imperialism - coming out en masse repeatedly to denounce proposed tax hikes that the IMF is urging President William Ruto to adopt.
Their resistance to the so-called Finance Bill - basically, the country’s draft 2024 budget - has seen it already watered down in parliament. Now, the protests have evolved into a call for the US-leaning Ruto to drastically change direction and curb wasteful spending by the government.
Regardless of political, social, and religious differences, Kenyan citizens have united in rejecting the treasury’s budget. They point the finger at the IMF for the significant tax hikes. The international lender has injected a substantial $3.5 billion in loans into the East African nation, but these funds come with strings attached. Some US Congress members were even in Kenya’s parliament, monitoring progress on the Finance Bill.
Could the determined efforts of Kenya’s Gen Z mark the beginning of the end of their country’s economic exploitation?
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