Moses Kuria, Cabinet Secretary for Trade and Investment, has asked Kenyans not to blame the government for the country’s dollar shortage.
Kuria testified before the National Assembly Committee on Trade, Industry, and Cooperatives that the dollar shortage is a global issue that has disproportionately affected the African continent.
“Because of the way the FED is playing with the interest rates, the dollar is becoming very expensive. In many ways, this is not just a Kenyan issue. It is a global issue, but Africa has been hit the hardest… “That one, I admit, is beyond our control,” Kuria said.
The CS also blamed the shortage of the greenback on the culture of importing things that are readily available and can be manufactured locally.
“You can’t complain about the dollar being too expensive when you’re importing everything.”