The banking sector has been a main support to finance the State's needs and reduce the burden of high public debt, according to the Ministry of Finance (MoF).
Banks have foreign currency reserves worth $65 billion, representing 93 percent of the total public debt. "These reserves exceed the State's debt in foreign currency by two times and a half," said Alain Bifani, Director General of the MoF. He said that banks are financing 88 percent of the State's debt.
The fiscal deficit ha...
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