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Originally published by Capital Businessbusiness
August 4, 2026
2h ago
Donor pressure forced Kenya to liberalize economy, ex-CBK Governor Kotut
Speaking during the CBK Governors Series, former CBK Governor Eric Kotut said the government reached an agreement with donors to implement wide-ranging economic reforms, including the abolition of exchange controls and import licensing...
✨ Key Highlights
Former Central Bank of Kenya (CBK) Governor Eric Kotut revealed that Kenya was compelled to liberalize its economy following the 1992 General Election due to a freeze in funding from development partners.
- The decision to liberalize was a direct consequence of development partners freezing funding after the 1992 General Election.
- Key figure: Eric Kotut, former Governor of the Central Bank of Kenya.
- Notable detail: Reforms included the abolition of exchange controls and import licensing, coinciding with political changes like the repeal of Section 2A of the Constitution.
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