President Barack Obama said that the United States would boost its emergency aid to the Horn of Africa by $113 million.
Calling the crisis "urgent," Obama said in a statement that the additional aid would come on top of the $870 million in assistance the United States has already provided to help countries hit by the
Finance Minister Uhuru Kenyatta (Right) and CBK Governor Njuguna Ndung’u at a past press briefing. [PHOTO: FILE] |
"The heartbreaking accounts of lives lost and of those struggling to survive remind us of our common humanity and the need to reach out to people in need," Obama said.
Meanwhile, Kenya’s and Uganda’s shillings are likely to stabilise next week, continuing their recovery from record lows against the dollar earlier this year, amid muted demand for dollars in the run-up to Christmas.
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Kenya’s shilling is seen holding steady against the dollar in the days ahead and could firm slightly due to high interest rates and reduced dollar demand during the holiday season.
— Reuters
