In the middle of the 2000s, Kenya, like many other countries, underwent significant borrowing, and China was spending money on its Belt and Road initiative to give to emerging markets around the world.  ,
Over the past 20 years Kenya amassed some$ 82 billion of loan to build roads, railways and businesses. However, some Kenyans felt that they had not benefited from the many ambitious projects that were being completed, and a number of corruption scandals led to accusations that rulers had enriched themselves.
” There is no split on corruption”, Boniface Mwangi, a popular social justice advocate in Kenya told Reuters. ” We have no problem paying debt, but… what did you do with that money that you borrowed” ? ,
Ruto has stated that he is fighting corruption and that he wants those responsible for bone to get brought to justice.
Kenya avoided default by issuing more debt earlier this year, but at a harrowing interest rate above 10 %. After this weekend’s opposition, the country’s relationship prices slid again.  ,
Ruto may find a way to stabilize the books in order to keep important IMF funds coming.
” Kenya’s state has a funds, and money is never unlimited- so they need to prioritize”, said Lutz Roehmeyer at Capitulum Asset Management.  ,  ,  ,  ,  ,
Kenya was advised to “reverse fiscal slippage,” but the IMF did not comment on whether it was asking for too much, but it stated in a speech that it was” carefully monitoring the situation.”
The path ahead is much less clear for Ruto and other leaders who are battling to tame bill after this month.  ,
According to Robertson,” the question is whether this is the canaries singing the IMF and the government’s notice about how much fiscal austerity can be crammed into a year.”  ,