by BoatSurfer600
Amazing to see the left with their heads in the sand on this one. They have absolutely no clue how f*cked they are. “This is fine”
Kenya has joined the long and growing list of former staunch American geopolitical allies to ditch the dollar in favor of using local currencies, gold or other precious metals, or cryptocurrency for international transactions of oil and other precious commodities.
The President of Kenya, William Ruto, has spoken against the use of the United States Dollar (USD) during trade between African countries.
Ruto said traders from Kenya and Djibouti are facilitating trade with the dollar when they could take advantage of the pan-African payment and settlement system (PAPSS) created by Afreximbank.
He suggested African countries should trade with currencies on the continent rather than depending on US legal tender, as traders often have to search for dollars to complete transactions.
The president spoke about the dollarisation of the African market on Tuesday during his address at the Djibouti parliament on Tuesday.
According to Ruto, prioritising local currencies ahead of the dollar during trading between two African countries will ease trade.