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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Benchmark Lending Rate

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Africa

Twin rate cuts set Mozambique apart as African currency rally

    By Seth Onyango, bird story agency   Mozambique’s central bank has decisively cut its benchmark lending rate to 15.75% from 16.5%, setting a precedent as the first African country to slash rates twice in 2024. The move highlights Maputo’s aggressive push for economic growth amid a wider trend of cooling inflation and currency stability against the US dollar across Africa. Rate cuts in the southeastern African nation, prompted […]

todayApril 8, 2024 35

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Business / Economics

Sri Lanka cuts key interest rates, seeks China deal

    Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout. Transport minister and government spokesman Bandula Gunawardana said Prime Minister Dinesh Gunawardena was in Beijing, the island's biggest bilateral creditor. "We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told […]

todayMarch 26, 2024 28

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