BEAC to buy securities to support countries grappling with Covid-19

africa

The Bank of Central African States (BEAC) announced it would start buying public securities issued on the secondary market, in an attempt to help countries affected by the Covid-19 pandemic.

At an unscheduled monetary policy meeting, governor Abbas Mahamat Tolli said the central bank will purchase a maximum of 600 billion Central African francs ($830 million) in securities with a maturity of 10 years.

The governor gave no indication of when the programme would begin but said it would last for

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