BoB unlocks P2.3bn to boost banks� liquidity
Friday, March 27, 2015
In a move aimed at augmenting funds available for lending for commercial banks, BoB governor Linah Mohohlo yesterday halved the Primary Reserve Ratio (PRR) for commercial banks from 10 to 5 percent, effective April, 2015 .
Primary reserves are the commercial banks’ deposits held in a special non-interest earning account at the Central Bank.
While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...