Kenya’s Youth Are Rising Up Against U.S.-IMF Control and Aren’t Backing Down

Summary

In this discussion, Dr. Grieve Shela addresses the IMF's role in Kenya's recent finance bill protests, highlighting the agency's history of imposing austerity measures that disproportionately affect the poor. He also discusses the broader impact of IMF policies on African economies and the need for debt cancellation, rather than relief, to break free from the cycle of debt and control.

Takeaways

• 🌐 The International Monetary Fund (IMF) is often involved in African economies, but its role in Kenya's recent finance bill has sparked an uprising among the youth.
• 🤔 The IMF is supposed to aid countries in financial distress and help them achieve economic sovereignty, but its actions in Kenya suggest otherwise.
• 🔄 Kenya has repeatedly turned to the IMF for assistance, averaging about every three years since joining in 1964, indicating a cycle of dependency.
• 💔 The IMF's policies often inflict economic pain on the most vulnerable populations, contradicting their stated goal of helping countries develop.
• 🚫 The recent protests in Kenya against the finance bill were a response to perceived austerity measures that favored the wealthy and multinational corporations over the poor.
• 🌟 The protests in Kenya were historic, organized by young people, and led by women in many cases, showing a strong pushback against IMF-influenced policies.
• 🏆 The Kenyan president's dismissal of his cabinet in response to the protests is a significant victory for the youth and progressive forces in the country.
• 🔄 The IMF's approach to African development contrasts sharply with the state-led development strategies seen in East Asia, South Asia, and historically in the West.
• 💼 Many African economists and policymakers have been trained by the IMF and World Bank, leading to a perpetuation of neoliberal ideologies that may not be in the best interest of their countries.
• 💬 There is a renewed interest among young Africans in alternative economic models and the writings of figures like Thomas Sankara, suggesting a potential shift in economic thinking.

Q & A

What is the primary reason for the recent uprising in Kenya?

The primary reason for the recent uprising in Kenya is the finance bill pushed forward by the IMF, which is seen as inflicting pain on the country's population, particularly the poor.

What is the role of the IMF in African economies?

The IMF is a global multilateral agency that is supposed to aid countries in financial problems. However, in practice, it often imposes austerity measures that negatively impact the poor and favor multinational corporations and the wealthy.

How often has Kenya sought assistance from the IMF since joining in 1964?

Kenya has sought assistance from the IMF 22 times since joining in 1964, which averages to about every three years.

What was the significance of the protests in Kenya against the finance bill?

The protests were historic, peaceful, and well-organized, led by young people and women in many cases. They successfully pressured the Kenyan president to dismiss his cabinet and withdraw the finance bill.

How does the IMF's approach to economic development in Africa differ from successful models in East Asia and other regions?

The IMF's approach in Africa often involves austerity measures and neoliberal policies that weaken state capacity and worker welfare, contrasting with the state-led development and investment in public services seen in successful East Asian models.

What was the immediate outcome of the protests in Kenya?

The immediate outcome was the dismissal of the Kenyan president's cabinet and the withdrawal of the finance bill, which was seen as a victory for the young people and progressive forces in Kenya.

Why does the IMF's approach to assisting countries often result in a cycle of debt and dependence?

The IMF's policies often involve conditions that weaken a country's economic sovereignty, making it more susceptible to external influence and repeated financial crises, thus perpetuating a cycle of debt and dependence.

What is the historical context of African countries' relationship with the IMF?

Many African countries initially pursued economic sovereignty and self-determination after gaining independence in the 1960s and 1970s. However, economic crises engineered by the West in the 1980s led to heavy indebtedness and increased susceptibility to IMF influence.

How has the IMF influenced the education and training of African economists?

The IMF and World Bank have set up training schools in Africa and the global South, indoctrinating economists with neoliberal ideology, which has led to the dominance of IMF-trained individuals in African finance ministries and treasuries.

What is the current debate around debt in African countries and the role of the IMF?

There is a growing call for debt cancellation rather than debt relief, as the burden of debt is seen as unjust and crippling to African economies. Critics argue that the IMF and World Bank are not truly global institutions but serve the interests of Western countries.