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The instruction by the brand new governor of the RBZ for banks to unwind their positions in a single day, and the speedy withdrawal of an in a single day accommodation support for banks by the RBZ, stimulated a crisis which led to significant asset-legal responsibility mismatches and a liquidity crunch for most banks.
Present international banks were not required to shed part of their shareholding though Barclay’s Bank did, via listing on the local inventory change. Though your monetary thermostat was set in childhood by others, the good news is that it is YOUR thermostat now and you may reset it for any level of prosperity you desire.
Harvey argues that the reticence …