World Bank president concerned over FX issues in Nigeria, Ethiopia, others

The IMF wants to address exchange rate distortions but progress has been limited in several countries including Nigeria, Ethiopia, and Argentina, David Malpass, World Bank Group president has said.

Countries with active parallel currency markets have increased in number due to the deterioration of economic conditions over the past few years. Growing depreciation pressures facing the developing countries have also contributed to the challenge.

BUSINESS DAY: Read More