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The battle in Ukraine is exacerbating Kenya’s worsening monetary disaster by contributing to increased inflation and including extra strain to the already embattled shilling. The truth is, a number of probably harmful financial forces seem like converging in Kenya. This interaction will make life tougher for each policymakers and their constituents:
WEAK SHILLING: The shilling touched new lows final Monday and by no means made up the bottom misplaced final week when it closed at 114 to the greenback. The weak shilling is a serious contributor to inflation and forces the federal government to spend extra of its dollar-denominated international change reserves to service its exterior debt and purchase imports. (THE STAR)
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