Central Organisation of Trade Unions (COTU) Secretary General Francis Atwoli has warned the Kenya Kwanza government over the deprecation of the Kenyan shilling against the dollar.
Speaking on Wednesday, January 24, Atwoli asked Treasury Cabinet Secretary Njuguna Ndung’u and the Central Bank Of Kenya (CBK) Governor Kamau Thugge to stop the fall of the Kenyan shillling.
The trade unionist warned that if the shilling continues to fall the price of basic commodities will go up and Kenyans will turn against the government and cause havoc in the country.
“You have seen the depreciation of our shilling, this is not a good thing, to us as labor leaders. We are asking the Governor of the Central Bank of Kenya together with the Treasury Cabinet Secretary to put a stop in the depreciation of our shilling. It doesn’t reflect the actual economic activities in the ground unless if they are answering to the World Bank and the IMF,” said Atwoli.
He added, “This will be dangerous because when the shilling deprecates the way it is going everything will go up and the general public will stand up against the government and it will cause havoc, chaos, and confusion and we will not have a government.”
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The Kenyan shilling is currently exchanging at 166.5 against the dollar.
President William Ruto’s economic advisor David Ndii in a statement earlier said the exchange rate is doing its job.
“The exchange rate is doing its job. Your noise is of no consequence. Your shopping is,” Ndii stated.
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