Thursday, January 25, 2024 - COTU Secretary General Francis Atwoli has warned the Government of President William Ruto over the depreciation of the Kenyan shilling against the U.S. dollar.
In a statement, Atwoli asked Treasury Cabinet
Secretary Njuguna Ndung’u and the Central Bank of Kenya (CBK) Governor Kamau
Thugge to stop the freefall of the Kenyan shilling.
The trade unionist warned that if the shilling
continues to fall, the price of basic commodities will go up and Kenyans will
turn against the government and cause havoc in the country.
“You have seen the depreciation of our shilling, this is not a good thing, to us as labor leaders.
"We are asking the Governor of the Central Bank of Kenya together with the Treasury Cabinet Secretary to put a stop to the depreciation of our shilling.
"It doesn’t reflect
the actual economic activities in the ground unless if they are answering to
the World Bank and the IMF,” said Atwoli.
“This will be dangerous because when the
shilling deprecates the way it is going everything will go up and the general
public will stand up against the government and it will cause havoc, chaos, and
confusion and we will not have a government,” he added.
The Kenyan shilling is currently exchanging at 166.5 against the greenback.
Ruto’s economic advisor, David Ndii, in a
statement earlier said the exchange rate is doing its job.
“The exchange rate is doing its job.
"Your noise is of no consequence.
"Your shopping is,” Ndii stated.
The Kenyan DAILY POST
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