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Search resuls for: "GITHUNGURI"


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Kenyan shipments of tea - its major export - have fallen by a fifth over the last year, according to the local regulator. The spike in global interest rates has already tipped Sri Lanka and Ghana into defaulting. Reuters GraphicsBLACK MARKETAlthough the dollar's share as a global reserve currency has dropped to 59% from 70% over a decade, it continues to dominate global trade. Nigeria has long had a web of multiple exchange rates which it is now trying to untangle, having also devalued its naira currency again last week. A plunge of around 70% in Bolivia's reserves has spawned queues at banks and currency exchange shops as some merchants stopped accepting local currency.
Persons: Wilson Muthaura, KTDA, Charlie Robertson, Muthaura, David Willacy, Ojo, Chaucer, Ronal, Luiz Inacio Lula da Silva, Kristalina Georgieva, William Ruto, Duncan Miriri, Marc Jones, Macdonald Dzirutwe, Monica Machicao, Mayela Armas, David Sherwood, Catherine Evans Organizations: Bank, FIM Partners, Reuters Graphics, Workers, REUTERS, La Paz, West, Reuters, JPMorgan, Monetary Fund, IMF, Fund, Thomson Locations: NAIROBI, LONDON, Pakistan, COVID, Russia, Ukraine, London, Islamabad, Egypt, Sri Lanka, Ghana, Tunisia, teetering, Nigeria, Kenya, StoneX, Nigeria's, Lagos, British, Cuba, Venezuela, Githunguri, Kiambu County, United States, Lebanon, Turkey, Ethiopia, China, India, Johannesburg, Saudi Arabia, Africa, Argentina, Nairobi, La Paz, Caracas, Havana
Ruto has also faced criticism for increasing allocations to his office and the deputy president's while cutting petrol subsidies. The proposals, contained in a draft law known as the finance bill, will be considered by parliament alongside the 2023-24 budget to be presented by the finance minister on Thursday. The president and his allies have defended the tax hikes, saying East Africa's economic powerhouse needs more revenue to avert a debt crisis and fund affordable housing projects. One man in Githunguri, who declined to give his name, defended the finance bill, saying Ruto was simply trying to leave his mark by constructing affordable housing. Fruit vendor John Nyaga, another Ruto voter, complained that the tax hikes would leave his customers with even less money to spend.
Persons: William Ruto, Ruto, Jacqueline Wambui, Ruto's, Uhuru Kenyatta, Raila Odinga, John Nyaga, Duncan Miriri, Aaron Ross, Ed Osmond Organizations: REUTERS, Ruto, Thomson Locations: Kiambu County, Kenya, GITHUNGURI, Nairobi, Ukraine, Githunguri
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