Impacts of strong dollar and hard currency shortages on treasury in Africa
November 10th 2022 1:00 PM GMT
The surge in the US dollar is being felt keenly throughout EMEA, with the greenback rising 5.5% in value in Q3 and strengthening against all currencies. Whilst the euro has some resilience to stem depreciation through monetary interventions, central banks in emerging economies and complex countries across Africa are at the sharp end of weakening local currencies. This currency crunch, coupled with ongoing hard currency shortages due to dollar outflows, dwindling foreign reserves and rising inflation in Africa, are creating a challenging environment for treasurers managing in-country liquidity risks. In this webinar, treasurers in the region discuss their local currency cash management strategies and the measures they are taking to hedge and mitigate ongoing currency risks.