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      BoBA readies Team for African Champs

      Debswana’s Exemplary Sponsorship Elevates Botswana Sports

      The Abilities of Coach Dose Speak for Themselves 

      The Abilities of Coach Dose Speak for Themselves 

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      Tebogo’s Move to US on Hold

      De Grasse Labels Tebogo a Threat in the World of Athletics 

      BVF Forecasts a Busy 2023

      BVF Forecasts a Busy 2023

      After An Erratic 2022, BCA Takes Stock To Restrategise For 2023

      After An Erratic 2022, BCA Takes Stock To Restrategise For 2023

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      Kenya: current account deficit adds downside pressure to the shilling

      mm by RMB Africa Research
      September 15, 2022
      in News
      Reading Time: 1 min read
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      Kenya: current account deficit adds downside pressure to the shilling

      Kenya’s current account balance remains negative – current account balance as a % of GDP. Source: ETM Analytics, Bloomberg

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      Provisional data released by the Central Bank of Kenya (CBK) showed that the current account deficit narrowed to 5.1 percent of GDP in the 12 months to July 2022 from 5.2 percent of GDP in the 12 months through to July 2021.

      According to the CBK, the narrower deficit reflected improved receipts from service exports and remittances. Although the July current account balance improved, Kenya continues to run current account deficits. From a currency perspective, a persistent current account deficit has added downside pressure to the Kenyan shilling. The shilling has lost more than 6 percent YTD against the US dollar and repeatedly dropped to record lows this year.

      Tags: Kenya

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