Kenya faces high political uncertainty but institutions stronger – CenBank Gov
Mareeg.com-Political uncertainty is high in Kenya following the annulment of the August presidential elections, the country’s central bank governor said on Wednesday (October 18), but political and judicial institutions have emerged stronger in the process. Opposition leader Raila Odinga was due to face President Uhuru Kenyatta on Oct. 26 in a repeat of the presidential vote held in August which was annulled by the Supreme Court on procedural irregularities. But Odinga withdrew from the repeat poll last week, saying the election board had not carried out reforms demanded by the opposition, throwing East Africa’s largest economy – a stable Western ally in a tumultuous region – deeper into political uncertainty. Patrick Njoroge said that the uncertainty is political and wouldn’t effect the country’s economy dramatically but the central bank was in the process of revising down its growth forecast. He said that he doesn’t see the final outcome of any rerun having an effect on investors.