Macro-financial risk
2026-04-26
11 min read
12 sources
Kenya After the Bill: Ruto, the Gen Z Revolt, and the IMF Reset
After Gen Z protesters stormed Parliament and forced withdrawal of the Finance Bill 2024, the Ruto administration is governing through a renegotiated IMF program, a narrower Finance Act 2025, and cancelled Adani concessions, betting that a softer anchor and stronger shilling buy room to 2027.
On June 25, 2024, protesters breached the Kenyan Parliament after the National Assembly passed the Finance Bill 2024. President Ruto withdrew it on June 26 and dismissed almost the entire Cabinet on July 11. The roughly 346 billion shilling hole was filled through a supplementary budget and a renegotiated IMF EFF and ECF totaling about 3....