Since 13 September 2022, when this regime came to power, to 9 June 2023, the Shilling has dropped by 17% against American Dollar.
This means that, if GoK had a debt of, say, Sh100 billion it owed to a certain foreign bank by that date – repaid in dollars – then that debt is now Sh117 billion.
The foreign debt as at 13 September 2022, when this regime came to power has increased by 17%.
This is money that has been lost, just by the Shilling weakening.
Why is the Shilling falling so steadily? Because, from the very beginning, “hustler economic miracle” was a scam.
Reason Kenya shilling is falling in value
This means that, if GoK had a debt of, say, Sh100 billion it owed to a certain foreign bank by that date – repaid in dollars – then that debt is now Sh117 billion.
The foreign debt as at 13 September 2022, when this regime came to power has increased by 17%.
This is money that has been lost, just by the Shilling weakening.
Why is the Shilling falling so steadily? Because, from the very beginning, “hustler economic miracle” was a scam.
Reason Kenya shilling is falling in value
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