No local firms in foreign reserves value chain

Wednesday, March 12, 2014

Minister of Finance and Development planning, Kenneth Matambo

Locally based financial institutions are unable to participate in Botswana’s foreign reserves value chain.

The bank of Botswana Act establishes the legal framework for the management of the foreign exchange reserves.The bank of Botswana Act establishes the legal framework for the management of the foreign exchange reserves.

The Act provides that the bank shall be responsible for establishing and maintaining a primary international reserve (liquidity Portfolio), which shall in general consist of liquid short-term assets.

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