Treasury Cabinet Secretary John Mbadi voiced his discontent regarding the treatment of African representatives at the 2024 International Monetary Fund (IMF) meeting held in Washington, D.C. last week.
Mbadi described the experience as humiliating, with African delegates forced to wait in a corridor and called in individually.
“For those of us who take pride in our positions, it is quite demeaning,” he said.
He noted that the funding Kenya is seeking from the IMF could potentially be sourced domestically.
“If we strengthen our systems, we could manage without relying on these loans. The IMF has released Sh78 billion, but with proper systems, the KRA could collect at least Sh400 billion,” he added.
A high-level delegation from the National Treasury and the Central Bank of Kenya participated in the IMF annual meetings, engaging in important discussions on global economic issues, 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.
