Africa’s central banks have amassed huge foreign reserves over the last decade, but they typically invest the majority of them in low-yielding developed world assets. They should look to put them to work in Africa instead.
Latest articles from Viewpoint
Colombia constructs the framework for a resilient economy
September 3, 2012A combination of responsible fiscal control, economic diversification and social inclusion make for a resilient economy. While Colombia has made significant strides towards achieving such equilibrium there is still headway to be made, with issues such as the country's stubbornly high unemployment rate, social inequality, and the threat from narcotraffickers still to be tackled.
The IMF must reform or run the risk of irrelevance
September 3, 2012Within the IMF, some members are more equal than others. Only when fast-growing development economies such as the BRICS nations are fairly represented in its decision-making processes can it be described as a truly multilateral organisation.
New Zealand learns from the sidelines of the crisis
September 3, 2012New Zealand may have fared relatively well during the global financial crisis, but the difficult economic climate, combined with specific market failures, has served to raise some serious questions among policy-makers, banks and the Reserve Bank of New Zealand itself.
Building on Asia's economic success
September 3, 2012Asia has been a bastion of growth during the global financial crisis, but there are a number of key issues that must be addressed if the region is to continue being a major contributor to global economic growth.
Moving Lebanon from stability to growth
August 27, 2012Having protected the country's economic stability throughout a period of intense economic and political turmoil, the Lebanese central bank is now tasked with boosting job creation and lowering the country's growing budget deficit.
Putting Greece back on track
July 2, 2012Four fundamental flaws have compromised Greek policy efforts and need to be reconsidered for the country to emerge from the financial crisis.
Georgia's local regulation in a global economy
May 28, 2012The governor of the National Bank of Georgia has to tailor his maintenance of local financial stability to a banking sector with high levels of foreign ownership and aspirations to expand across the Caucasus region and beyond.
Bolivian finance minister looks to cash in on strong economy
April 23, 2012Bolivia is about to tap the international capital markets for the first time in a century, a move which its finance minister says reflects its impressive economic performance of the past few years.
Chinese banks move up a gear in Latin America financing
March 26, 2012As China becomes a growing source of finance in Latin America, looking to internationalise the renminbi and diversify its investments away from low-yielding US debt securities, both parties seem to be reaping the rewards. But does this blossoming relationship simply highlight Latin America's dependence on commodities?