IMF boss jets in to Kenya
19 October 2011, 09:26
Nairobi - Finance minister Uhuru Kenyatta announced in parliament that the IMF’s chief, Christine Lagarde’s is scheduled to visit Kenya on October 18, 2011, the Daily Nation reports.
Kenyatta was addressing MPs on the state of the shilling, following last week’s statement by Joseph Kinyua, Finance permanent secretary who said that the government would be asking between Sh25 billion ($250 million) and Sh35 billion ($350 million) from the IMF, in a bid by Treasury to boost the shilling’s value against the dollar.
Kenyatta said that he was unaware that five banks were hoarding stocks of the dollar and that there had never been discussions of any five banks alleged to be behind the depreciation of the shilling of the shilling.
Kenyatta’s statement directly contradicts a disclosure by CBK governor Njuguna Ndung’u who said on June 23 that an audit by the regulator had showed the five banks exported $260 million (Sh26 billion) over one week.
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