BEAC to implement measures to rebuild reserves across region
African central bank to restrict bank refinancing; modernising liquidity and monetary policy framework
The Bank for Central African States (BEAC) is embarking upon a set of policies to help rebuild levels of reserves for those in the region struggling to recover from the oil shock last year, notes a report released by the International Monetary Fund.
“The BEAC will ensure implementation of strict limits aimed at restricting bank refinancing using government securities as collateral,” the fund said, noting the central bank had, in the meantime, already begun tightening monetary policy.
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