Confronting Reality: Doing What Matters to Get Things Right

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Caribbean: The Inter-American Developement Bank (IADB) agrees to increase its capital by US$70 billion, doubling its capacity to make loans to the Caribbean and Latin America. Fares have gone up from 50k [Nigerian Kobo in the early 1980s] to N10 [Nigerian Naira in 1997] (R33). One is the need to unify the various fragmented regional markets into a national market which links the population centres. This stabilisation mechanism reduces the need for large shifts in policy rates, alleviating the risk of hitting the zero lower bound of nominal interest rates and falling into a liquidity trap.

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Publisher: Random House Audio

ISBN: B0006IU6TG

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