Africa
Gambia’s central bank criticised over expat staff policy
Nigerian diaspora organisation calls for reversal of plan to replace non-Gambian employees
Central Bank of Libya announces new governor
Naji Issa’s resignation – rejected in August – suddenly accepted in surprise leadership shake-up
Recent banknote series show increased use of clear windows
Data reveals changing patterns in application of security features
Central banks remove over 40,000 fake notes on average
Most counterfeited banknotes detected in series issued from 2015–2020
Sarb’s fast payment platform ‘far from ubiquitous’ – governor
Pricing and lack of public awareness among factors limiting adoption of PayShap
Rethinking the narrative on cash
Antti Heinonen explores recent developments of cash that go against the prevailing narrative
Volume of damaged notes withdrawn from circulation increases
Frequency of official fitness tests tends to have bearing on removals
Dan Katz on the IMF’s role amid a fracturing economic system
The first deputy managing director speaks about the fund’s efforts in technical assistance, central bank guidance, debt workouts and surveillance in a system beset by fiscal imbalances, geopolitical fissures and digital disruption
Atomic settlement: a solution to cross-border payment woes?
Experts say simultaneous settlement has the potential to improve cross-border frictions – so why are central banks lukewarm?
One in five central banks to issue new banknotes next year
Third of respondents have seven denominations of banknotes in circulation
National Bank of Ethiopia joins Papss
Network says it will increasingly focus on boosting Africa’s connectivity with global payment systems
Number of banknote depots linked to cash cycle involvement
Public and private sectors jointly bear distribution costs in most jurisdictions
Success of Rwanda’s eKash comes from mandatory use – governor
Central bank learned from UPI and Pix on how to lower transaction costs on instant payment system
CBN faces lawsuit over $1bn of allegedly misappropriated funds
NGO demands explanation for more than $6.23m in alleged election-related fraud
Volume of cash in circulation averages less than 5bn notes
Proportion of payments made using cash averages 40% in past year
Printworks owners have seven times more cash staff
Currency departments generally more satisfied with non-staff resources than staffing
Tanzania, DRC and Kenya keep rates on hold
Countries face different risk factors, though Middle East conflict remains common thread
IMF flags gaps in Somalia’s financial reform efforts
Fund notes progress, but says central bank should go further to safeguard stability
People: Sarb appoints former World Bank economist to MPC
Plus appointments in Singapore and the Seychelles
Africa’s central banks diverge as Zambia delivers major rate cut
Mozambique holds while Sierra Leone delivers second consecutive hike
Sarb hikes rates 25bp, citing persistent global supply shock
Global economy not in a healthy space, governor says