Shilling Sinks to a Record Low
From Times Wire Reports
The shilling sank to an official record low against the U.S. dollar, extending a slide that began when the International Monetary Fund halted a key aid package last week. The IMF had cited the government’s failure to crack down on corruption in its decision. The shilling fell 4% to close at 70.26 to the dollar. It has fallen 18% since the IMF took action. The government, meanwhile, declared illegal a national strike called for today, raising chances of violent clashes.
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