South Sudan’s central bank cuts benchmark interest rate to 10% – ZAWYA

South Sudan’s central bank cuts benchmark interest rate to 10% – ZAWYA

South Sudan's central bank cuts benchmark interest rate to 10% | ZAWYA MENA Edition HomeMarketsArticleSouth Sudan's central bank cuts benchmark interest rate to 10% This is the second time the central bank has slashed its rate since April    JUBA- South Sudan's central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outbreak on the economy.This is the second time the central bank has slashed its rate since April, when it cut by 200 basis points to 13%. The downward revision was geared towards reducing the cost of financing to the private sector by commercial banks, Governor Gamal Abdalla Wani said.This is the second time the central bank has slashed its rate since April, when it cut by 200 basis points to 13%. JUBA- South Sudan's central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outbreak on the economy.The downward revision was geared towards reducing the cost of financing to the private sector by commercial banks, Governor Gamal Abdalla Wani said."Affordable loans will benefit business and South Sudanese citizens alike at this time