Kenya has requested an in-depth assessment from the International Monetary Fund (IMF) regarding the effects of corruption and mismanagement of state resources on its public finances. This move comes in the wake of widespread protests that occurred in September, where demonstrators stormed parliament demanding significant governmental reforms.
Corruption has been a persistent issue in the East African nation, contributing to the unrest that has paralyzed the country. The IMF audit, referred to as a 'governance diagnostic,' is seen as crucial for Kenya to finalize a long-delayed review of a $3.6 billion financing program, which is necessary to unlock a $600 million disbursement. Western governments have been advocating for this assessment to support Kenya's financial recovery.
The implications of this development are significant, as successful cooperation with the IMF could lead to improved financial stability in Kenya and potentially set a precedent for other nations grappling with similar issues of corruption and governance.