Tag Archives: Kenya’s
Kenya’s President, Ruto Chooses Interior Minister As New Deputy After Gachagua’s Impeachment
Politics tamfitronics Kenyan President, William Ruto has nominated the current interior minister, Kithuri Kindiki, to replace Rigathi Gachagua as Deputy President after Gachagua was impeached by the Senate on Thursday.The dramatic political shift has captivated the nation, which is often regarded as a stable democracy in the turbulent East African region.The impeachment of Gachagua, Ruto’s running mate in the closely contested 2022 election, marks a significant moment in Kenyan politics as he becomes the first deputy president to be impeached under the revised 2010 constitution.The Senate voted to remove Gachagua after finding him guilty of five out of eleven charges, despite his absence from the proceedings due to hospitalization.The fast-moving developments continued on Friday as National Assembly Speaker, Moses Wetangula announced Kindiki’s nomination and urged parliamentarians to proceed with the vote for confirmation.Kindiki, a 52-year-old...
Kenya’s forex reserves decline amid foreign debt repayments, particularly to China
Business new tamfitronics Kenya’s foreign exchange reserves have experienced a significant drop of USD 487 million (about KES 63.9 billion) over the past week, following substantial repayments of external debt. An English-language daily business newspaper published in Kenya, Business Daily, reported that this decline has reduced the resources critical for supporting the local currency. The decrease in reserves follows the government's repayment of USD 533 million (about KES 70 billion) in external loans, which includes USD 433 million (KES 56.8 billion) used to service a loan from China.Follow @EconomicTimes
