August 18, 1999: Mr. Chrisanthus Okemo (Right) is appointed Kenya’s new Finance Minister. He was appointed in a straight swap with Mr. Francis Yekohada Masakhalia, who was demoted to Energy Minister. Mr. Masakhalia was moved from control of the Treasury after exactly six months, against a background of a sliding Shilling, soaring interest rates and the government defaulting on repayments of $52 million (Sh4 billion) in foreign debt. Pictured here speaking in his office after signing a KSh 767 million aid package with ambassador Luis-Francisco Garcia Cerezo of Spain in May 2000.
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