Former deputy president Rigathi Gachagua has sparked debate after claiming that the International Monetary Fund (IMF) allegedly linked future financial support for Kenya to the removal of President William Ruto from office.
Speaking during a public event in Mombasa on Saturday, April 25, Gachagua said he personally reached out to the IMF to seek solutions to the country’s worsening economic situation.
According to him, the lender expressed concerns about governance issues in Kenya.
Gachagua claimed that during the engagement, IMF officials allegedly told him that meaningful financial assistance would only be possible if there was a change in leadership. However, he did not provide evidence to support the claims.
He further stated that he had urged the institution not to punish ordinary Kenyans due to leadership challenges, but insisted the response he received pointed to governance concerns as a major obstacle.
The remarks come at a time when Kenya’s talks with the IMF over a new financing programme have stalled. The government has been seeking fresh support to ease pressure on the economy, which is currently facing multiple challenges.
Recent developments indicate that negotiations cannot proceed until concerns raised in an ongoing governance review are addressed. IMF officials are said to be waiting for a formal response from Kenyan authorities before moving forward.
At the same time, the country is grappling with rising global oil prices, which have increased the cost of imports and widened the current account deficit. This has added further strain on the Kenyan shilling and public finances.
Kenya’s public debt has now risen to approximately KSh 12.8 trillion, placing additional pressure on the government to secure external funding.
