By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: Suluhu: Unlike our neighbours, we have enough dollars to last us 4 months
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > News > Suluhu: Unlike our neighbours, we have enough dollars to last us 4 months
News

Suluhu: Unlike our neighbours, we have enough dollars to last us 4 months

new5nuke
Last updated: March 9, 2023 7:29 am
new5nuke
2 years ago
Share
SHARE

Tanzania’s president Samia Suluhu on Wednesday assured citizens that the country is in a good economic situation, unlike some neighbours whom she did not name.

Suluhu, who spoke at a rally for International Women’s Day organised by an opposition party, said the country is more economically stable than any other East African state.

“My brothers and sisters, I want to tell you that Tanzania is doing well economically. In the entire East Africa region, we are better than other countries, let nobody lie to you. Right now, every country is complaining of dollar shortages while we have enough to last us four months,” said Suluhu.

She said Tanzania has been receiving requests from neighbours grappling with dollar shortages to guarantee their crude oil imports.

“Go to our neighbours, they do not have even a two-week supply. We are getting requests to guarantee their oil supplies but we have just been pretending that the situation is bad for us as well,” said the first female president of Kenya’s southern neighbour.

“We are doing well and our economy will be even stronger if we stay united.”

READ MORE  President Ruto signs three bills into law

Kenya is among the countries currently battling an acute shortage of US dollars, which has been attributed to pressure from external debt repayments.

The demand for forex has recently skyrocketed as importers seek more dollars due to an increase in global prices of fuel, food products, cooking oil and steel, among others.

Data released by the Central Bank of Kenya (CBK) last week shows forex reserves dropped to $6.6 billion (Ksh.845.46 billion) on March 2 from $6.86 billion (Ksh.878.76 billion) on February 23.

And while CBK Governor Patrick Njoroge has constantly downplayed the shortage, this is 3.69 months of import cover, which is below the four-month set threshold.

There are fears of a looming countrywide fuel shortage and motorists have this week been turned away from select filling stations.

On Tuesday, a source at the Kenya Pipeline told Citizen Digital that there is no fuel shortage and the country still has enough reserves to last at least 16 days.

He attributed the apparent crunch affecting select filling stations to a dollar shortage that had left the outlets unable to purchase petroleum products.

READ MORE  Fight against FGM derailed by politicians afraid of losing their seats – Aisha Jumwa
The EU invites Ruto to the Russian-Ukraine peace meeting in June
Shabaab militants flee into Boni forest after police, KDF overpower them
Duale says public hospitals will be issued with title deeds
Kenyan digital historian wins Sh38m in Dan David prize
Woman Who Strangled Her Four Children Sentenced To Life Imprisonment
Share This Article
Facebook Email Print
Previous Article Kenya’s first elected female MP passes on aged 98 years
Next Article UCL: Why Bayern Munich eliminated us from Champions League – PSG coach, Galtier
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • Former Russian president reminds Trump of Russia’s ‘dead hand’ nuclear strike capability
  • Suspected Arkansas double murd3rer arrested while getting a haircut
  • Paris Jackson and her fiancé end their engagement a week after she was spotted crying in public
  • Singer Justin Timberlake reveals Lyme disease diagnosis
  • Kenya Power warns public against conmen posing as CEO Siror

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?