Kenyan reverse

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The Independent Online
Kenya reversed key economic liberalisation measures yesterday after a row with the International Monetary Fund (IMF) over economic policy, Reuter reports from Nairobi. A statement by the central bank reintroduced a number of foreign currency controls lifted only last month in an attempt to win IMF support for a return of crucial Western aid.

The liberalisation measures included floating the Kenyan shilling which has since plummeted by more than 60 per cent against sterling, the dollar and most other currencies.

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