Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion
A report by three UK-based economists advocates the South African Reserve Bank (Sarb) use part of its reserves to help fund the government’s debt service, according to the Financial Times.
The paper, written by two economists at London hedge fund Amia Capital and a doctoral student at the London School of Economics, centres on the gold and foreign exchange contingency account held by the Sarb. The Financial Times based its report on this paper, which does not yet appear to be in the public
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