“With interest rates where they were for the last 20 years, everyone forgot how to cash forecast,” according to a senior Citi treasurer in its Top Treasury Priorities of 2024 report published in February.
When the cost of external finance was close to zero, there seemed little need to obsess over internal movements of money.
But the treasurer’s statement does not tell the whole story.
The global pandemic had already set the scene for a cash forecasting renaissance before rates rose.
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