Kenya’s official foreign exchange reserves are expected to come under renewed pressure, the World Bank has said, citing rising import costs and a slowdown strain in hard-currency sources such as diaspora remittances.
The multilateral lender links this to escalation of external pressures and sees Kenya’s current account deficit worsening to a wider-than-expected 4.3 percent of GDP, compared to a conservative three percent outlook by the Central Bank of Kenya (CBK).
