‘We Want Audit On External Debts!’ – Omtatah Goes After IMF, World Bank Loans To Kenya
Busia Senator and activist Okiya Omtatah has accused the International Monetary Fund (IMF) and the World Bank of allowing Kenya’s debt to inflate by continuing to send funds to the country despite clear evidence of corruption and incompetence.
“These institutions cannot feign ignorance. Wire transfers leave digital trails,” Omtatah pointed out.
“The looted money was laundered into known tax havens, and global intelligence agencies were fully aware of these transactions. Yet, loans were granted without due diligence.”
The activist has claimed that Kenyans are paying for loans that have never benefited them while detailing his studies into the country’s Ksh10 trillion debt.
While announcing his intention to go to court to fight for justice and request an audit of Kenya’s debt, Omtatah claimed that while politicians take debts for alleged development, the money is pocketed by unscrupulous persons.
“Why should the citizens of Kenya bear the burden of repaying loans that were never intended to benefit them?” the Senator asked.
“Why should those who facilitated these loans, only to siphon public funds into their private offshore accounts, walk free while the people struggle under oppressive economic conditions?”
For decades, the Kenyan people have been burdened by odious debts incurred by past regimes under questionable, and often despotic, circumstances. These loans, ostensibly taken for national development have instead been used to enrich a few corrupt individuals at the expense of…
— Okiya Omtatah Okoiti (@OkiyaOmtatah) February 1, 2025
Omtatah claims that some of these loans are obtained in violation of constitutional provisions.
The legislation requires that any external borrowing be approved by Parliament, as stated in Article 211 of the Constitution and Section 50 of the Public Finance Management Act of 2012.
The activist has called on all Kenyans, civil society organizations, and international partners that value transparency and justice to join him in his quest for justice.
He is demanding a public examination of Kenya’s external debt to identify which loans were legitimately obtained and which were fraudulent or illegal, as well as the prosecution of persons and institutions responsible for acquiring, facilitating, and plundering.
Omtatah is also requesting the return of stolen funds purportedly held in offshore accounts.
In addition, the senator advocates for the development of a legal framework to avoid future imprudent borrowing, parliamentary supervision, and public engagement in debt management.
The senator emphasized the necessity of audit and accountability in securing Kenya’s future.
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“We will not allow future generations to be enslaved by debt accumulated through corruption and impunity,” stated Omtatah.
“The looters must return what they took, and those who enabled these financial crimes must be held accountable.”
Kenya’s public debt had reached approximately Ksh10.6 trillion by July 2024.
This represents a significant increase in the public debt over time; in January 2021, the debt was Ksh7 trillion, rising to Ksh8 trillion in November 2022 and subsequent years.
‘We Want Audit On External Debts!’ – Omtatah Goes After IMF, World Bank Loans To Kenya
