In the context of the present condition of the capital market, banks have been allowed to extend loans to corporates against shares held by them to enable such corporates to meet the promoters' contribution to the equity of new companies in anticipation of raising resources. The credit delivery system is thus sought to be improved. 14.
While the previous two decades witnessed sustained growth and macroeconomic stability in Africa on the backdrop of reduced fiscal deficits and current account deficits, the global recession risks compromising our macroeconomic gains via the triple deficit problem of high fiscal deficits, high current account deficits and high private sector savings-investment gap.