David Ndii, Chairperson of the Presidential Council of Economic Advisors, warned Kenyans that the country will face continued tough economic times.
Responding to public inquiries about when relief would come, Ndii explained that Kenya’s financial difficulties started when the government entered an agreement with the International Monetary Fund (IMF).
Speaking at the NCBA economic forum, Ndii likened Kenya’s situation to being in receivership, where drastic measures such as cost-cutting are necessary to stabilize finances.
“When you enter an IMF program, you are in receivership. There is no relief. Relief only comes when you exit receivership,” he said.
He also drew parallels to companies in receivership, noting that the government must reduce expenses, which often leads to layoffs.
Ndii pointed out that true economic recovery won’t come from external loans or quick fixes but from comprehensive structural reforms that the government is currently working on.
He emphasized, “Many countries remain stuck in economic crises because they treat the symptoms, not the root causes.”
The economist insisted, “An IMF program is merely a palliative. What is needed are the structural changes we are undertaking. You can’t keep asking, ‘How much relief are we getting?’ At this point in time, the answer is zero.”
