IMF hits out at Ruto for continuing Uhuru fuel subsidy

International Monetary Fund (IMF) criticises Ruto government over the re-introduction of the fuel subsidy programme.

The International Monetary Fund (IMF) has hit out at Kenya over the re-introduction of the fuel subsidy scheme on grounds that lack of funds to pay oil marketers will lead to distortion of the budget.

The IMF said that the government re-introduced the subsidy despite lack of funds to pay oil marketers with the Treasury yet to pay the firms at least Sh9 billion that has accumulated from last year.

Peter Salasya apologises over Isongo Secondary School incident

EACC arrests SIX officials behind a multimillion tender fraud after a raid into govt agency

Tabitha Karanja lobbies for the impeachment of Governor Susan Kihika

CS Kindiki terms 2027 election talk in Mt Kenya as primitive

ODM MP and Raila’s close claims his life is in danger

Shock as body of female teacher found wrapped in mat behind her house

President William Ruto had in 2022 vowed that his administration would not subsidize pump prices, in line with the conditions to access billions of shillings in loans from the Bretton Woods institution.

Kenyans pay Sh2.2bn extra cost on fuel subsidy Ruto now cuts subsidies to zero.

A litre of petrol and diesel retailed at Sh217.36 and Sh205.47 respectively in Nairobi in the pump prices announced on October 15 last year as the subsidy prevented prices from shooting to Sh220.43 and Sh217.11 respectively.

The re-introduction of fuel subsidy hasn’t sat well with the IMF, given that its removal was one of the fresh conditions set by the financier as part of a 38-month budget support scheme. 

Also read,

U.S. military strike kills Al-Shabaab militants

Raila diehard Nuru Okanga joins form one

Nigerian prophet sends warning to President Ruto

DP Gachagua reveals how certain leaders threatened to end his political career

Alarm as another woman is murdered, breast chopped off

Follow us

FaceBook

Telegram