Published: 31 August 2017

A $600 million nostro stabilization facility from Afreximbank will largely support fuel and electricity imports as well as critical government obligations, sources said this week.

The development will have a 'substitution effect' with exports receipts that had been directed towards funding for critical private sector imports, a banker said.

He indicated that foreign currency volumes have come down after the closure of the tobacco selling season.
- Fin Gaz

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