The strong rebound in domestic economic activity and improvement in the labor market conditions in Q1 2022 provide scope for the central bank to continue rolling back the pandemic-induced interventions as defined under the central bank’s exit strategy.
Earlier, the central bank’s provisional advances to the national government – this is our version of QE – amounted to USD10.3 billion - in 2020 and 2021 was down to USD5.7 billion in January 2022. To date, the national government has fully paid the central bank advances.