Treasury Cabinet Secretary John Mbadi expressed his embarrassment over the treatment of African representatives at the 2024 International Monetary Fund (IMF) meeting in Washington, D.C., last week.
Mbadi reported that African delegates were subjected to demeaning conditions, having to queue in a corridor and be called in one by one.
“For those of us who have some pride, it is a bit demeaning,” he remarked.
He observed that the funding Kenya sought from the IMF could potentially be sourced locally.
“If we tighten our systems, we can manage without some of these loans. The IMF has released Sh78 billion, but with proper systems in place, KRA could collect not less than Sh400 billion,” he stated.
A high-level delegation from the National Treasury and the Central Bank of Kenya attended the IMF annual meetings, engaging in crucial discussions on global economic challenges, including financial stability, poverty reduction, green financing, and sustainable development.
The team included Mbadi, Central Bank Governor Kamau Thugge, and National Treasury Principal Secretary Chris Kiptoo.
Treasury officials who accompanied Mbadi to US.
