The Director of the Centre for Promotion of Private Enterprise, Dr Muda Yusuf, highlighted the harsh realities of current economic reforms, noting that treasury management had become one of the most difficult tasks for organisations, particularly over the last 18 months.
The sharp increase in interest rates and liquidity restrictions, designed to curb inflation, had put immense pressure on companies’ ability to stay afloat, Yusuf declared.
“For treasury managers, this is perhaps one of the most challenging periods in recent history as far as managing treasury is concerned,” he said.
“We are seeing quite several casualties resulting from the current economic reforms.”
The director of CPPE acknowledged that while ongoing economic reforms were widely recognised as necessary by economists and business leaders, their impacts had been more destabilising than anticipated.
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