As an import-dependent economy, a weakened currency will create further shocks for the economy, especially if there are existing problems in the foreign exchange market.
Secondly, monetisation is easier if it is interest-free, but this is not the case here. The CBN is also paying interest on existing bank reserves. Advanced economies currently monetising public deficits have reduced their interest rates to near 0 per cent. Excessive spending would crowd out private investment, though this may not be an issue if the central bank keeps low-interest rates. The CBE reduced its interest rate from 18.75 per cent in 2017 to 8.5 per cent in 2020.
On whose authority was the 60 billion printed, don’t come asking for permission from anyone it what you have been doing
Breaking News: Tension in Aso rock as Mazi Nnamdi Kanu will be on air tomorrow being the 5th of May 2021. 7pm Biafran time. DSS has haired Russians scientist to attack the frequency but Biafra scientist's are equal to the tax ahead is gona be hot.
No. But printing money isn't a bad idea.
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