Ruto Banks on Diaspora Funds to Strengthen Kenyan Shilling
President William Ruto on Sunday stated that his administration is depending on casual laborers working abroad to stabilize the depreciating Kenyan Shilling.
Speaking during a church service in Kimende in Kiambu County, Ruto stated that the dollar remittances by Kenyans in the diaspora will be key in helping the Kenyan economy recover from its current slump.
The Head of State further announced that he had reached an agreement with a host of foreign nations to export thousands of Kenyan casual laborers who will earn a minimum of Ksh150,000 per month.
“Those going abroad will repatriate dollars so that the exchange rate can stop giving us problems,” Ruto remarked.
Ruto told the nation that within the next 2 months, Kenyans would be moving to Israel to work in agricultural fields.
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Additionally, thousands of Kenyans would also move to Germany, the United States, and Saudi Arabia following successful labor agreements.
“We want to ensure every Kenyan has a source of livelihood,” he explained.
In the same breath, he castigated Azimio Leader Raila Odinga for questioning the move to export casual laborers.
“Why does he want them to stay in Kenya? We said that any form of work is okay,” Ruto fired back.
“It is too early for him to start complaining. We will send thousands more.”
The Kenyan Shilling has shed more than 20 percent of its worth since President William Ruto was sworn in in September 2022.
Trading at Ksh153 against the dollar, only the Nigerian Naira and Angolan Kwanza have depreciated faster than the Kenyan quid.
Ruto Banks on Diaspora Funds to Strengthen Kenyan Shilling
