The Central Bank of Kenya has assured the country that it has sufficient foreign-exchange reserves to meet increased import requirements that could arise from the projected El Niño-related disruption to domestic production. According to Central Bank Governor Kamau Thugge, Kenya’s usable foreign exchange reserves currently provide about 6.2 months of import cover, well above the four-month minimum recommended level. The assurance comes on the back of growth uncertainty owing to the conflict in the Middle East, which is projected to have an adverse impact on certain sectors of the economy. Jimmy Mbogoh has more.
