President Ruto: Without G To G Deal The Dollar Would Be 250

ByBrian Amwai
Published on: Dec 17, 2023 09:12
President William Ruto at a Media Interview. Photo| Courtesy

President William Ruto on Sunday said the G to G oil deal has significantly helped in cushioning the Kenyan shilling from free fall and stabilizing the exchange rate.

The head of state who was speaking at the statehouse in Nairobi during a media round table interview on Sunday, December 17, highlighted the significance of the G to G in addressing Kenya's longstanding challenge of maintaining an artificial exchange rate OF 130.

"If I hadn’t structured the G-to-G deal, the dollar today would be at 250," said Ruto.

President Ruto stated that the G to G deal mitigated the  increasing interest rates set by the US Federal ReserveUS 

"The US Fed kept on increasing their interest rates. The G-to-G deal has worked. If we hadn’t experienced an increase in the Fed, the dollar would be at 120 today," Ruto said.


Leave a Comment..


No comments yet...