Kenya is a colony of Bretton Woods system despite sovereignty claims

World Bank President Ajay Banga shakes hands with President William Ruto during the closing session of the New Global Financial Pact Summit in Paris on June 23, 2023. [AFP] 

As the fiscal year starts, there seems to be a sigh of relief at the hierarchy of Treasury with the unlocking of about Sh161.8 billion (US$1.25 billion) credit facility from the World Bank.

This after days of stalemate with both the World Bank and the International Monetary Fund (IMF) over public debt disclosures and a supposed insider report on questionable governance practices.