Kenyan Shilling Faces Potential Depreciation: Former CS Moses Kuria's Prediction and Economic Concerns
Moses Kuria, former Cabinet Secretary, warns of a significant depreciation of the Kenyan shilling by late 2024. Citing escalating inflation, external debt, and balance of payments issues, Kuria's comments spotlight the urgency for economic policy adjustments. His forecasts have elicited varied reactions from economists and financial analysts focused on the government's next moves to stabilize the currency.
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South African Rand Dips as Markets Await New Cabinet Formation
The South African rand experienced a 0.9% decline, anticipating President Cyril Ramaphosa’s new cabinet lineup. The drop is linked to concerns over political friction within the coalition government and a technical market correction. The ANC now must balance political inclusivity with economic priorities to stabilize investor confidence.
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