Fresh details have emerged that that, investors on Treasury bills and Treasury bonds have declined as a result of the weakening of the Kenyan Shilling against the United States dollar. The shilling is exchanging at 135 per one USD from as low as 127 raising a lot of questions about Kenyan monetary policies.
President Ruto has assured investors of huge economic resilience and recovery but that’s not happening. The cost of doing business in Kenya is also increasing due to the shilling volatility issues.
President Ruto assurances to investors has not helped matters and the situation is worsening everyday. This is a major challenge and a confirmation that, the government might not be able to raise enough funds to finance it’s budget deficit.
Here is a link: https://twitter.com/Kenyans/status/1784148317909217475?t=q2G1GU-z3jRfs1xe6TJvug&s=19