It was the Central Bank of Kenya (CBK), the country’s financial regulator then led by Erick Kotut, which printed excess money. Consequently, inflation, or the overall increase in prices of products, touched an all-time high of 61.54 per cent in January 1994. Moreover, with the printing money being channelled into banks, it is not a sure bet that banks will lend the money. Ideally, because money is simply a medium for transferring value, the amount of money printed should keep up with an increase in economic activities. We are not printing money to finance government projects though very good in themselves.

Source: Standard Digital August 03, 2021 07:52 UTC