Friday, September 23, 2022 – President William Ruto’s plan to remove Kenyans from the Credit Reference Bureau (CRB) is now officially in limbo.
This is after Central Bank of Kenya (CBK) Governor Patrick Njoroge opposed the move, saying it is bad for the economy.
Speaking during an interview with an international media house, Bloomberg, Njoroge maintained the need to abide by the country’s monetary policies.
He explained that existing data from CBK will guide financial policies and expenditures for the next government.
He insisted that the data from CRB will help the country remain afloat and overcome recession waves. He thus ruled out being drawn into political expediencies.
“The Central Bank will continue with policies it has always had regardless of the new administration that has come in. Good central bankers do their work based on data as opposed to political expediencies. You will see the Central Bank continuing along the same lines as before,” Njoroge stated.
Instead of responding to political financial promises, Njoroge insisted on the need to service the debt and protect CBK reserves from recession pressure. The governor noted that debt management was key to remaining afloat.
During his campaigns in the run-up to August 9th polls, Ruto had vowed to remove 14 million Kenyans from CRB if he is elected President.
Njoroge’s move follows the warning by the World Bank against delisting Kenyans from CRB.
The Kenyan DAILY POST.