Analysis of the Kenya Shilling's rapid decline. Part 2 (22nd Sept.)

[lubangad]

Alex mwangi is like bembelezaing us to listen. Adopt a different voice

[extreemd]

Keep sending those dollars!

[africaupdates]

Free market ? This Governor should understand that in the real work things work differently from the academic world. Its impossible to run a country according to any academic rules taught in school.

If the Western world applied what they force us to apply to our economies with a blind eye then their countries would be third world like ours. Kenyas Central Bank was one of the worst performing Central Banks in the world in 2011. The Shilling is the worst performing currency in the world in 2011

[iamgathui]

I aint an economist, but I think the guy has a point. He says if the country focuses on doing its own manufacturing/value addition the weak shilling could be a good thing. Of course if we do nothing, the weak shilling spells more doom for the economy. E.g. if we exported packaged tea/coffee we would be smiling a fact that coffee farmers can attest to albeit other factors like global demand/supply have attributed to.

[drsugarcane]

This will force kenyans to stop importing and start manufacturing

[evegacheri]

kenya imports more than its exports.Huyu mtu anasema nini.He can't make up his mind.A weak shilling is bad for Kenya because it imports almost everything....hata wafanyikazi...nani anajenga baro???wachinese!o.k then.

[somalipal]

@evegacheri He is saying, it is bad for kenya as things stand now, but as humans usually do, he is trying to find optimism in the issue, ie it is good for some export oriented industries, the tea growers are having a boom. Kenya should manufacture more to reap the benefits of a weak currency, like china does. China artificially devaluates its currency for its gain.

[Utadowot]

Wow! what is he talking about?! exchange rate here to stay or to continue? make up your mind Gupta!!

how does this global crisis trigger further growth?i have headache already!

[somalipal]

@Utadowot Kenya will grow regardless of the world economic situation, because kenya is at the bottom, and the only way is up, it will experience less growth as its markets in the west become smaller. But grow it will, even if by a small margin. IT alone will easily account for 1percent of growth, add that to all other sectors.

[kimwaki]

he is more confused than anything else

[rashaenka]

Do the powers that be even care?Its always politics first kenya be damned.

[siasabora]

it is a world wide recession happening...markets everywhere are feeling the jitters already esp. EU and Wall Street...u can't save the shilling.

[benadede]

too many "if" and "perhaps" scenarios. I don't know if this dude is an economist, but history has taught me to take the word of such experts with a whole bowl of salt.

[nedatronics]

@benadede I felt the same way too...he probably has no idea what he is talking about