Revealed: Ruto spoke to IMF chief after withdrawing Finance BillPresident William Ruto spoke by phone with International Monetary Fund chief Kristalina Georgieva days after he withdrew Finance Bill, 2024 in response to deadly nationwide protests against tax hikes. The Cabinet meeting Thursday is said to have discussed major austerity measures, according to a Cabinet Secretary who spoke with ‘Nation’ in confidence. “We have agreed that we are going to implement austerity measures and budget cuts to balance the shortfall occasioned by the withdrawal of Finance Bill,” said the CS. On the day Dr Ruto climbed down by dropping the Finance Bill, he proposed budget cuts in the three arms of government as well as county governments. IMF had foresaw the emergence of street protests against the tax measures, but asked the government to stand firm on new revenue-raising measures.

Source: Daily Nation July 04, 2024 18:10 UTC