President William Ruto and International Monetary Fund Managing Director Kristalina Georgieva at State House, Nairobi, on May 13, 2026. [Courtesy]

When the National Treasury unveiled the Finance Bill 2026 last month, critics pointed to a familiar influence behind some of its most contentious proposals — the International Monetary Fund (IMF).

For nearly two years, the Washington-based global lender has been pressing Nairobi to close a yawning fiscal gap through new taxes, spending cuts, and what the IMF calls “fiscal consolidation.”

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