Kenya Shilling Pays Price Of Year Of Blunders, Treasury Chief Says

The Kenyan shilling’s sharp slide against the dollar follows years of policy missteps at the central bank, according to Treasury Secretary Njuguna Ndung’u.

“We are actually paying the price of misalignment that happened in the last five to seven years,” he told the National Assembly in the capital, Nairobi. “The most important thing is to accept that there have been policy mistakes.”