The oil supply deal Kenya signed with three State-owned Gulf companies last year to tackle challenges related to the scarcity of dollars has failed to ease the foreign exchange pressures on the country as expected, the Treasury has admitted. In disclosures to the International
Monetary Fund (IMF), the Treasury said the government intends to exit the arrangement under which the country imports oil over a credit period in December, citing the distortions it has created in the forex market.
