Oburu dispells dollar fears

The Government has dispelled fears the country may lose Sh24 billion due to decline in value of the US dollar. Martin Ogindo (Rangwe) had raised the issue saying depreciation of the dollar would mean the Sh160 billion provision in the budget to clear foreign debts may shoot up by about Sh24 billion. The US dollar has declined in value by 15 per cent in the last eight months. It is currently exchanging at Sh75 against the local currency. Finance Assistant Minister Oburu Oginga (pictured) said there are no risks arguing the dollar has just reverted to where it was before the global economic crisis.