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Blocked funds, Forex problem for foreign airlines in Africa, says IATA
The International Air Transport Association (IATA) said blocked funds and denied access to foreign exchange in Africa is an increasing problem for foreign airlines. The Director-General of IATA, Alexandre de Juniac in a statement to Woleshadare.net said in nine African countries, international carriers are unable to repatriate their foreign currency earnings, while locally-based airlines experience difficulties making on-time foreign currency payments to their suppliers and business partners. “Angola and other countries blocking funds are undergoing significant economic…
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