Treasury Cabinet Secretary John Mbadi has refuted claims of government manipulation regarding the Kenyan shilling's stability against the U.S. dollar, attributing it to sound economic management and increased investor confidence. This comes amid expert concerns, including from the International Monetary Fund (IMF), about the currency's unusual steadfastness.

• CS Mbadi cited prudent macroeconomic stewardship, an eight per cent surge in diaspora remittances, and improved export earnings as reasons for the currency's stability.
• The shilling has maintained an average of Ksh129 against the dollar for the past 15 months.
• The IMF expressed concern during a recent visit, with KRA Chairperson Nderitu Muriithi admitting they found the exchange rate "too stable," potentially interfering with inflation targeting.
• David Ndii, Chair of President Ruto's Senior Economic advisors, dismissed expert debates on the stability as "witchcraft," emphasizing a pragmatic approach for policymakers.