A frank-talk ‘shootout’ at the BoB :: Mmegi Online

Former president Festus Mogae’s famous phrase ‘straight talk breaks no friendships’ was in play recently when top current and former Bank of Botswana executives, the Finance Ministry permanent secretary and bank CEOs, publicly shared frank views on the economy. MBONGENI MGUNI was in the audience

“I have a demand governor, and (BoB) board chair and a demand is a non-negotiable requirement. “From yourselves, what we need is unbiased and straightforward, objective financial and economic advice without any fear or favour. “We are going to have to implement those painful adjustments, painful decisions.”

Finance Ministry permanent secretary, Tshokologo Kganetsano, set the ball rolling last week at the Bank of Botswana Monetary Policy Statement launch. The annual event where the central bank traditionally unveils the direction it will lean towards in terms of interest rates for the year, is frequently dominated by discussions on trending economic challenges and solutions.

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