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Kenya's $500mn IMF loan with Chris Muiga from KCB

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Uploaded by on Dec 1, 2010

(www.abndigital.com)
Convergence criteria for the establishment of a monetary union for the East African Community requires all member states to build up gross external reserves to at least 6 months of import cover.

To this end, Kenya will use half of the IMF $500 million loan to shore up its foreign currency reserves. But some analysts question the central bank's motives.

Joining ABN on Kenya's foreign currency position is Chris Muiga, Senior Currency Dealer Kenya Commercial Bank or KCB.

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