Trade Cabinet Secretary Moses Kuria has said that the ongoing US dollar shortage and the falling shilling are beyond the government’s control.
“Because of the way the FED is playing with the interest rates, the dollar is becoming very expensive. So in so many ways, this is not just a Kenyan problem. It is a global problem but Africa has been hit the most… That one I can admit is out of our control,” said Kuria when he appeared before the National Assembly Committee on Trade, Industry and Cooperatives.
In the first admission of helplessness over the crisis by the government, the controversial cabinet secretary has said that Kenyans must stop crying over the crisis because they import everything leaving no room for the stabilization of the shilling.
“You cannot be crying that the dollar is expensive when you are importing everything,” he added.
His sentiments came hours after Tanzania President Samia Suluhu lifted the lid on the extent of the crisis Kenya is facing.
Samia Suluhu mocks clueless broke neighbor who’s run out of US dollars
President Suluhu had mocked a neighbouring East African Community member who has run out of US dollars and who is begging her for rescue.
