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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The scarcity of the dollar pushes countries, including Arab countries, to return to the era of barte

    Rocky
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    • Post n°1

    The scarcity of the dollar pushes countries, including Arab countries, to return to the era of barte Empty The scarcity of the dollar pushes countries, including Arab countries, to return to the era of barte

    Post by Rocky Wed 08 Nov 2023, 6:50 am

    [size=35][size=35]The scarcity of the dollar pushes countries, including Arab countries, to return to the era of barter[/size]

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    Economy

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    2023-11-08 | 07:23
    The scarcity of the dollar pushes countries, including Arab countries, to return to the era of barte Doc-P-473099-638350431573165144
    [/size]

    Source:
    Agencies

    357 views


    Kenyan Treasury Minister Njoguna Ndongo confirmed on Wednesday that Egypt is considering exchanging Kenyan tea for other commodities, which would enable it to retain dollar liquidity.


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    Bloomberg reported that “Ndongo’s statements came in the context of his speech before a committee in the Kenyan capital, Nairobi,” adding that “the Egyptian ambassador to Kenya was the one who submitted the swap request.”

    Ndongo quoted the Egyptian ambassador as saying: “We do not have dollars to pay. We will get Kenyan tea, and the Kenyans will also come and decide what they will get from Egyptian products.”



    The step comes as a number of countries around the world face a shortage of US currency, including Kenya, which is considered the largest black tea exporting country in the world, which may prompt it to accept the exchange of tea for products produced by Egypt.

    Kenya is suffering from a shortage of dollars, which increases inflation and weighs on the shilling.

    The East African country faces increasing demand for the US currency to import food and fuel, as well as to repay $2 billion in bonds due in June 2024. The

    shilling has lost 18% against the dollar this year, while the Egyptian pound has fallen 20% during the same period.

    Egypt is the second largest buyer of tea from Kenya after Pakistan.

    Exports to the two markets in the first eight months of 2023 fell by 23% and 13%, respectively, according to data from the Kenya Tea Board.

    “President [url=https://www.alsumaria.tv/Entity/1090640376/%D9%88%D9%8A%D9%84%D9%8A%D8%A7%D9%85 %D8%B1%D9%88%D8%AA%D9%88/ar/]William Ruto[/url] sent the Minister of Agriculture to negotiate similar barter arrangements with Pakistan,” Ndongo said.
    https://www.alsumaria.tv/news/economy/473099/%D8%B4%D8%AD-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%8A%D8%AF%D9%81%D8%B9-%D8%AF%D9%88%D9%84%D8%A7-%D8%A8%D9%8A%D9%86%D9%87%D8%A7-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D9%88%D8%AF%D8%A9-%D8%A7%D9%84%D9%89-%D8%B2%D9%85%D9%86-%D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%8A%D8%B6%D8%A9
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