Kenyan embassies cry for State bailout as forex losses mount

Various world currencies. [iStockphoto]

Cash-strapped Kenyan embassies funded by the local currency where they are stationed globally have begged the government for a special fund to cushion them from mounting foreign exchange losses bound to halt their operations.

The Kenyan missions abroad say their budget is done in Kenyan shillings while some spending units utilise the funds in different currencies leading to huge foreign exchange losses which reduce the actual amounts available for spending.