I called the CBK a bluff a long time ago and it still remains so...

CBK has enough examples on how to kill the KES short sellers courtesy of other CBs like BoJ, SNB etc who have scuttled spec positions with giant yen and swissie interventions, just to remind the market who is boss...

I continue viewing this as a deliberate event and the unit in charge is pretending they can't understand the problem. Very annoying indeed

Mr PRO the media has real stories to tell the death of the Shilling unfolds as predicted by Mr Media Man

Everything I wrote in this article has come to pass even the Prez has called upon the IMF... http://contrarianinvesti...cial-crisis-of-1997.html

@deal i would also be interested on how they came out of it. I only remember IMF told president of indonesia suharto to do away with food subsidies and he was kicked out of office thro' street protests.

Well the IMF stepped in with a $40 Billion rescue package which helped stabilised their currencies...luckly their exports gained momentum and they were able to recover but the period was characterised by stagflation & lots of pain and claimed some Presidency like @Mkono puts it.

With Kenya its a different scenario...policy markers have not taken any actions to reform the Agriculture sector...the countries biggest forex earner I.e SA receives less rain than KE yet KE is ever buying maize from SA! Even if KE receives the Billions from the IMF there is strong probability this thing will occur all over again unfortunately the IMF is happy to lend thats their business anyway...so long term solutions like irrigation or even GMO after all its the maize we eat!

Read this article written way back in June and relate to today and you will see some prophecy.

Lets wait for 3Q and 4Q GDP numbers for confirmation...the pace of contraction should inform us when we enter negative growth