Africa
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic
Bank of Mozambique hikes policy rate by 300 basis points
MPC cites Covid-19, conflict and natural disasters as it orders increase
New macroeconomic framework needed for recovery – Ghana governor
Public debt levels have breached maximum thresholds and NPLs are likely to climb, Addison says
Nigeria’s central bank unveils sandbox and QR guidelines
Both initiatives should help foster innovation within the payment space
Rwanda’s central bank may need to bolster support – IMF
Lack of fiscal space means central bank may be last resort, says fund report
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
Vaccine would speed up recovery, Bank of Uganda reports
Higher levels of NPLs and high lending rates are hampering growth, report says, but vaccine could result in swift recovery
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
APIs could help curb fintech operational risk – Sarb deputy
Data can give firms a competitive edge in South Africa’s financial services market
Income levels have little bearing on economics staffing
European central banks have on average more staff in statistics; non-European institutions have more research economists
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation is expected to hit target by mid-2021
South Africa to stop cheque payments by 2021
Since August 2019, cheque usage has declined 59%
Kganyago says Sarb needs support from fiscal and macro policy
Governor says monetary policy cannot improve South Africa’s growth alone
Zambia MPC holds rates despite stability concerns
New governor notes a cut to interest rates would have been “expected”
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
Gold reserves in central banks – 2020 survey results
Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle
Malawi’s central bank cuts interest rates as inflation outlook improves
Central bank projects annual inflation to fall below 9% this year
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk
G+D and CPS are ‘most approved’ for banknote sorting
Just over half of survey sample endorses Munich-based manufacturer
Websites are top currency communication tool
More than two thirds of currency managers use social media; regional disparities emerge on preferred communication tools
Kenya’s central bank opens new currency centre
New facility will improve currency circulation within the region, president Kenyatta says