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Africa’s economic growth stalls amid debt crisis

Kenya’s Political Instability Threat to Near-Term Economic Outlook, Experts Warn

Kenya
  • Kenya’s Political Instability has seen calls for President Ruto’s impeachment, a demand likely to persist soon. 
  • Reduced capital inflows suggest limited foreign exchange reserves at the central bank’s disposal to support the currency in the near term.
  • The analysist say tensions will likely de-escalate in the coming weeks, but expect market sentiments towards Kenya to remain bearish

The Kenyan shilling is expected to face pressure in July due to anticipated declines in capital inflows caused by political instability experts have warned.

The analysist from pan African market insights firm Stears are now saying that following the protests from June 18 to June 27, the currency depreciated by 0.29 per cent slightly dimming economic outlook.

This downward trend is likely to continue amid uncertainties surrounding the President’s push to step down and an upcoming IMF review.

Reduced capital inflows suggest limited foreign exchange reserves at the central bank’s disposal to support …