Kenya
State agencies race for foreign currency as Kenyan shilling plummets

Invitations to tender in Kenya are increasingly issued in dollars or euros, prompting state-owned firms to invoice for their services in foreign currency. The trend towards dollarisation of the economy risks further draining the country's foreign exchange reserves, which are already at an all-time low. [...]
Published on 06.02.2024 at 05:40 GMT Reading time 2 minutes

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