List Of Countries That Don’t Have A Central Bank 2023
Did you know that there are still many countries today, that do not have a Central Bank?.
What’s a central Bank?
A central bank, also known as a reserve bank, is a national bank that manages a country’s monetary policies on a national level.
In most countries, the central bank sets the interest rate to maintain a healthy exchange rate and control inflation, increases or decreases the nation’s money supply, handles the printing and coining of national currency, regulates commercial banks to prevent fraudulent or exploitative behaviors, and can act as a lender if a financial crisis occurs.
In addition, central banks also manage foreign exchange rates, government bonds, and gold reserves.
Till date this year, some countries still don’t have any central reserve Bank in their country.
With no particular order, here are the countries today that currently have no central banks.
All Countries Without A Reserve Bank:
- Marshall Islands
- Isle of Man