BEAC to buy securities to support countries grappling with Covid-19
Bank of Central African States will purchase up to $830 million in secondary market
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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