BoB pushes banks as forex reserves tighten
Friday, January 10, 2025 | 730 Views |
Taking action: Masalila PIC: MORERI SEJAKGOMO
According to the last official figures, the country’s foreign reserves managed by the BoB declined to P56.1 billion in October 2024 from P64.9 billion in October 2023, due mainly to the decline in rough diamond sales.
The prolonged decline in diamond receipts, coupled with steady imports and the lack of other strong foreign currency earners, has meant a slide in the reserves over the months, triggering the BoB’s latest actions.
‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...