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Poor countries may need two currencies to survive Brexit shocks – EXPERT AVAILABLE

Written by Phyllis Papadavid

Press Release

A leading expert on global markets says some developing countries will need to introduce dual currency systems – because of the global aftershocks caused by Britain’s decision to quit the European Union.

Phyllis Papadavid is the team leader for international macroeconomics at the Overseas Development Institute, a think tank in the UK.

She has previously worked for BNP Paribas and Societe Generale.

Phyllis Papadavid said : 'Dual currency systems are favourable as the developing country can chose the best one to facilitate capital goods imports - leading to higher productivity, and another rate can foster exports. Without them there is a danger currency fluctuation will hit growth.'

Some countries in Africa, Asia, and Latin America could consider adopting dual currencies.

ENDS

To interview Phyllis or for more information contact James Rush at [email protected] or 07808 791265