Mmegi

Economy braces as pula review date draws near

Decisions due: The Ministry of Finance and BoB are working on the pula exchange rate policy review
Decisions due: The Ministry of Finance and BoB are working on the pula exchange rate policy review

Technocrats at the Ministry of Finance and the Bank of Botswana are crunching numbers and measuring impact ahead of the December review of the pula exchange rate policy, as some experts advise that the local currency is still overvalued.

The last review, done on July 10, resulted in a faster depreciation of the pula, whilst changes to the central bank’s trading margins for foreign currency with banks kicked off economy-wide price hikes.

Authorities said the measures were critically needed to arrest the decline in the foreign exchange reserves, which defend the value of the pula, and also support export competitiveness to boost forex inflows.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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