Monday, March 22, 2023 – President William Ruto has admitted that there is a dollar shortage in the country, making the importation of goods and services to the country difficult.
Speaking on Wednesday, the president assured importers that with the set market-driven strategies, the shortage should be fixed in a matter of weeks.
Ruto said his administration has also undertaken innovative strategies to ease the burden of the availability of dollars in the market.
He added that they already have an agreement that will see Kenyans access fuel on a deferred six-month credit.
He said the move will ease demand for about 500 million dollars every month from this market.
“I want to assure those in Kenya who were facing challenges of access to dollars that we have taken steps to ensure dollar availability in the next couple of weeks are going to be different because our fuel companies will now be paying for fuel in Kenya shillings,” Ruto said.
“They do not have to look for dollars every month because we have to ensure we ease the burden on people who want to realise their returns in dollars,” Ruto added.
A fortnight ago, President Samia Suluhu 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 Suluhu.
“We are doing well and our economy will be even stronger if we stay united.”
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