1984 drought forced Kenya to diversify economy, says ex-CBK Governor

Ex-CBK Governor Eric Kotut said the drought severely affected crop and livestock production at a time when agriculture, particularly tea and coffee exports, was the country's main source of foreign exchange...

✨ Key Highlights

The severe drought of 1984 significantly impacted Kenya's economy, compelling the government to implement diversification strategies, according to former Central Bank of Kenya (CBK) Governor Eric Kotut.

The 1984 drought devastated the agricultural sector, Kenya's primary source of foreign exchange from tea and coffee exports.
Eric Kotut, former CBK Governor, highlighted that this crisis led to seeking financial aid from development partners.
Financial support from institutions like the World Bank and IMF came with conditions for Structural Adjustment Programmes (SAPs) to reduce reliance on traditional sectors.

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