The International Monetary Fund (IMF) has suspended lending to the Kenyan government until the 2027 presidential election is held and a new government is formed.
According to IMF sources and senior Treasury officials, the IMF says it will not sign a new financing agreement with Kenya before the August 2027 General Election. IMF analysts say they have concerns over what could happen to any deal if a new government takes power.
This year alone, the Kenyan government under President William Ruto has taken loans of over Sh 500 billion from the IMF, with the majority of the money spent greasing the hands of State House attendants.
Part of the money has also been used to fund national government projects, which is meagre compared to the loans.
The IMF said it will not sign any deal with Ruto’s government going forward until it is certain he will be re-elected in the 2027 presidential election.
President William Ruto is deeply unpopular in the country due to his administration’s actions against Gen Zs during the June 2024 and 2025 protests. But like African dictators, he is creating fake optics using paid-for opinion polls to show he is still in pole position to be re-elected.
An IMF source said raw data shows a new government will be in place in 2027, and that is the reason it suspended any bilateral or financial agreement with the current government.
