How Africa’s central banks are tackling the effects of Covid-19

📆 2020/04/07 01:25:00
📰 BDliveSA

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In countries such as SA, the burden of support has fallen on the central bank because the government lacks the resources to provide stimulus

SA Reserve Bank. Picture: MARTIN RHODES

Lockdowns have brought economic activity to a halt in many African countries, leaving deserted the streets of the commercial hubs of Lagos in Nigeria and Johannesburg in SA, suspending exports to try to maintain domestic food supplies and stopping travel.

Zimbabwe restored its currency’s peg to the greenback as the local unit crashed and foreign exchange became scarce.

Write Comment

What are we waiting for, cut interest rates by 400 bases points. People can not pay their debts anyway. Reducing Capital Reserves only helps institutions. They can not lend jn this kind of risky economy. They protect themselves.Tighten their credit policies.

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