July 7, 2020 / 2:10 PM / a month ago

South Sudan's central bank cuts benchmark interest rate to 10%

JUBA, July 7 (Reuters) - 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%.

“Affordable loans will benefit business and South Sudanese citizens alike (during) this time of crisis,” Governor Gamal Abdalla Wani told reporters on Tuesday, announcing the cut. (Reporting by Denis Dumo; writing by Omar Mohammed; editing by John Stonestreet)

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