Kenya shilling holds steady against U.S dollar

State bodies holding back over Ksh.200b of unclaimed assets

The Kenyan Shilling has strengthened further against the U.S Dollar buoyed by improved forex reserves.

The shilling anchorage can be witnessed following the International Monetary Fund (IMF) loan support and muted demand for the dollar.

Kenya’s economy is projected to grow in 2021 at 7.6 percent according to the IMF.

The multilateral lender says that Kenya’s economy is now picking up speed after the COVID-19 shock, but the pandemic has left deep imprints on the country’s fiscal and debt positions.

The Bretton woods institution says growth in 2020 overall is likely to have been close to zero and it is projected to bounce back strongly in 2021.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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