BoB engages consultant to boost interbank activity
Friday, December 08, 2023 | 210 Views |
Deal done: BoB and Frontclear representatives signing the MoU on Monday
Under the agreement signed this week in Gaborone, the central bank will work hand in hand with Frontclear on drafting a money market diagnostic framework, a policy that will guide money market operations in the country.
The local money market is a component of the economy that deals with the trading of short-term debt and currencies between financial institutions. Conventionally in Botswana, the trading of currencies and short debt options between local banks has been plagued by low activity due to the central bank’s heavy involvement.
While the minister is of the view that the proposal would have significant positive economic impact, the entertainment industry players believe otherwise. The issue has over the weeks become a hot potato. But what is of essence right now is that the country needs liberal ideas to move in the right direction While opening up the economy may sound quite interesting to the ear, rolling out extended trading hours through pilot programmes without...