The outgoing Central Bank of Kenya (CBK) governor Patrick Njoroge has differed with Kamau Thugge, who has been nominated to succeed him, on the potential issuance of a local dollar-denominated bond to stop the free fall of the shilling, terming it a ‘slippery slope’.
Dr Njoroge says the proposal is based on the misplaced context that there exists a pool of idle foreign currency deposits in commercial banks.
