Upside impact of CBN’s interventions emerges


Upside impact of CBN’s interventions emerges

….Analysts, manufacturers show pain points

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CBN Headquarters in Abuja

By Emeka Anaeto, Business Editor

As Nigeria strives through one of the toughest times in its recent economic history, all eyes are on the public policy executives entrusted with the responsibility to shepherd the system and drive the ship to safe anchor.

The Central Bank of Nigeria, CBN, appears to be at the centre of the storm, though it was responsible for just the monetary policy, probably because it has trusted itself forth unto its development finance roles.

In the tempest of Coronavirus (COVID-19) pandemic fiscal and monetary policies are now put to the strictest litmus test; how and when shall the much-desired respite come?

The macroeconomic pain points are inflation (which reflects the cost of living); general economic output captured in Gross Domestic Product, GDP; Real sector growth in the face of the monetary, infrastructure and structural challenges.

The macroeconomic indicators are not looking good…

Source: Vanguard Newspaper