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Africa must accelerate market reforms, Interference at the Reserve Bank of India

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Commentary: Africa must accelerate market reforms

By George Asante in Johannesburg

For Africa to grow, it needs a broad, all-inclusive financial market that facilitates investment. Policy-makers must pursue accelerated reforms to the continent’s financial markets, principally because these can be used to raise capital to meet the region’s significant funding needs, particularly for infrastructure projects. Africa’s transformation requires significant resources. For example, to achieve universal energy access by 2025, as much as $55bn annually must be raised in domestic and international capital.

Read the full commentary on the website.

Podcast: Interference and independence at the Reserve Bank of India

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Ellie Groves, OMFIF programmes manager for emerging markets, is joined by Lord (Meghnad) Desai to discuss the implications of government pressure on the Reserve Bank of India. Desai examines the importance of central bank independence for global capital markets and promoting investment, why the government might be trying to influence the RBI, and whether this will lead to a wider trend of governments pressuring their central banks to prioritise growth over tighter monetary policy.

Listen to the recording, or search for OMFIF on your smartphone’s podcast app.

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