Kenya's Ruto names Njuguna Ndung'u as finance minister
Kenya's new President William Ruto on Tuesday appointed former central bank governor Njuguna Ndung'u as the new finance minister.
Ndung’u, who became central bank governor in 2007, weathered a political storm in 2012 as parliament tried to oust him over currency turmoil in 2011, when the shilling weakened sharply and inflation soared. A Reuters poll ranked Ndung’u as the worst performing African policymaker after the shilling plunged to its weakest ever level then while run-away inflation was in full swing.
He restored his reputation as a central banker in the following years, keeping inflation contained after raising interest rates before gradually stabilising them.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)