Government cannot ‘grab’ central bank’s resources – Njoroge

CBK governor reiterates central bank-funded bailouts “never work”

Patrick Njoroge

The governor of the Central Bank of Kenya has taken a stand against the country’s Treasury, stating the central bank will not be surrendering excess Treasury bills to fund the government’s deficit.

On November 11, the Treasury ordered all state agencies to send “surplus” cash and Treasury bills to it before November 12.

“If the government is short of revenues and wants… to assault the Central Bank of Kenya and grab whatever resources there are, that has never worked and will never work,”

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