Narok Senator Ledama Ole Kina has renewed scrutiny of the International Monetary Fund’s influence over Kenya’s economic decisions, warning that external pressure on currency policy could undermine the country’s long-term stability.
His remarks, shared on X, come at a time when the government faces heightened public debate over debt management, inflation, and the impact of global lenders on domestic policymaking.
In his statement, the senator accused the IMF of pushing Kenya toward a currency devaluation as part of efforts to address the country’s persistent trade deficit.
Describing the move as unfair to developing economies, he argued that such policy directions limit the ability of African nations to manage their own economic priorities. Ledama wrote that the IMF should operate strictly as a lender and not as a decision-maker for sovereign states.
Currency management has historically been a sensitive issue in Kenya, where fluctuations in the shilling often affect fuel prices, import costs, and household spending.
IMF-backed programs have influenced government reforms in the past, including fiscal tightening and subsidy adjustments, which have generated mixed reactions from political leaders and the public.
Ledama’s comments align with long-standing criticism within Parliament that global lenders wield disproportionate power over national policy.
The senator further warned that African states risk stagnation if they continue to rely on economic prescriptions from Western institutions.
According to him, such pressures contribute to structural disadvantages that prevent the continent from achieving genuine economic independence. His statement reflects wider concerns voiced across the region whenever governments enter extended loan arrangements with the IMF.
Kenya’s economic planners have for years grappled with a widening import bill, weak export earnings, and growing external debt.
While the IMF has maintained that its programs are developed collaboratively with member governments, local economists remain divided on whether currency devaluation would ease or worsen the country’s financial challenges.
Some argue that a weaker shilling could support exporters, while others caution that it would further strain households already facing high living costs.