IMF’s Selassie calls for ‘pragmatism’ on exchange rates

Official challenges idea that resisting depreciation is always the best policy

Abebe Aemro Selassie
Abebe Aemro Selassie
IMF Photo/Cory Hancock

Some African central banks should consider allowing their exchange rates to depreciate, the International Monetary Fund’s Abebe Aemro Selassie said on August 3.

The IMF African Department chief acknowledged he was wading into a “minefield of a topic” that often provokes fierce debate between the fund and its members. But he said many economies were being held back by their exchange rate policies.

Africa’s share of global exports has remained “meagre”, Selassie said, and countries have suffered

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account