Narok Senator Ledama Olekina on Tuesday, 18 November 2025, launched a scathing attack on the International Monetary Fund (IMF), accusing the global lender of “blatant economic bullying” and warning that its policy prescriptions threaten to keep Kenya and other African nations “perpetually underdeveloped.” In a statement posted on social media platform X, the senator argued that the IMF's role must be limited to lending, not dictating economic policy for sovereign nations.

“The IMF's insistence that Kenya devalue its currencies for an unfavourable balance of trade is blatant economic bullying,” Olekina stated, adding that Africa would never achieve true development or independence if it remains shackled to Western interests. His remarks tap into a growing public discontent over Kenya's economic direction, which has been heavily influenced by conditions attached to multi-billion dollar lending programmes from the IMF.

Kenya’s Deepening Debt and IMF Conditions

Senator Olekina's criticism comes as Kenya navigates a complex economic landscape marked by high public debt and a persistent cost of living crisis. According to the Central Bank of Kenya (CBK), the country's total public debt stood at KSh 11.5 trillion as of May 2025. Data from the National Treasury's 2025 Medium-Term Debt Management Strategy shows the debt stock was KSh 10.58 trillion by June 2024, representing 65.7% of Gross Domestic Product (GDP). This is significantly above the IMF's recommended threshold of 50.0% for developing economies.

To manage this debt and associated fiscal deficits, Kenya has sought extensive financing from the IMF. The current multi-year programme, which expired in April 2025, has seen the government pursue aggressive fiscal consolidation measures, primarily through increased taxation. These measures, including controversial proposals in the 2024 Finance Bill, have been directly linked to IMF conditions and have sparked widespread public anger and protests over their impact on household incomes. In September 2025, a survey found that 40% of Kenyans cited taxation as the main cause of the high cost of living.

Negotiations for a new lending programme are currently underway, with the IMF stressing the need for Kenya to restore fiscal credibility, ensure debt sustainability, and enhance governance as preconditions for further funding. An IMF mission led by Haimanot Teferra visited Nairobi in late September and early October 2025 to assess the economic situation, though no staff-level agreement has yet been reached.

Economic Outlook and Public Response

The IMF projects that Kenya's economy will grow by 4.8% in 2025, a slight improvement from 2024 but a figure that has been revised downwards from earlier forecasts. The National Treasury remains more optimistic, forecasting 5% growth for the year. Despite these projections, many Kenyans are experiencing significant economic pain. Inflation, while having eased from its 2022 peaks, remains a major concern, driven by high food and fuel prices. The economic crisis is deeply felt across most households, with 79% of Kenyans believing the cost of living is higher than it was a year ago, according to a September 2025 poll.

Senator Olekina is not a lone voice in his criticism. His stance reflects a broader sentiment among some policymakers and citizens who feel that IMF conditionalities, such as the push for higher taxes and reduced public spending, disproportionately harm the poor and stifle economic activity. The deadly youth-led protests in 2024 against the Finance Bill were partly fuelled by a perception that the government was implementing policies dictated by the IMF without sufficient public consultation.

The Continental Debate

The debate in Kenya is a microcosm of a wider conversation across Africa regarding the role and impact of the Bretton Woods institutions. Many African leaders and civil society organisations argue that the policy conditions attached to IMF and World Bank loans often prioritise austerity over investment in critical public services like health and education, thereby undermining long-term development. A July 2025 report by ActionAid highlighted that several African countries spend more on servicing debt than on health and education combined. Critics also point to the institutions' governance structures, where voting power is skewed towards wealthy Western nations, giving them outsized influence over policies that profoundly affect the Global South. As Kenya continues its high-stakes negotiations with the IMF, the fundamental questions raised by Senator Olekina about economic sovereignty and the path to sustainable growth will remain at the forefront of the national discourse.