Why the Nigeria-China currency swap deal has failed to stabilize the naira
The deal was to reduce the demand for U.S. dollars and strengthen the value of the naira.
State of fiat
Your fiat money is backed by the issuing government’s “full faith and credit.” What’s that worth these days?
State of fiat informs about the situation of your local currency.
Ethiopia and Kenya join Ghana in seeking IMF bailout
The three African countries are requesting loans to restore financial stability, worsened by the covid-19 pandemic and global supply chain crunch.
Tunisia rejects IMF’s requests to remove subsidies on basic goods
President Kais Saied said he will pay no attention to foreign “diktats”
Zimbabwe cuts lending rate for the second time in 2023
Zimbabwe becomes the second African country to drop lending rates for the second time this year, after Angola.
Leading Zimbabwean trade body warns against full dollarization of the economy
76% of government spending is in U.S. dollars and could cause damage to Zimbabwe’s economy long term, the Confederation of Zimbabwe Industries wrote
Central African countries to ditch French colonial currency
The move follows widespread calls for a change of currency and to end French representation in key decision-making bodies
EU warns Tunisia over deteriorating economic and political situation
The economic crisis worsened following the suspension of the World Bank's new lending to Tunisia.