The acquisition of such skills was largely delayed until the emergence of a domestic money market in the early-1970s and of a foreign exchange market even later. Again, these are relevant points when analyzing the Namibian situation. One point that is often overlooked by those arguing for an adoption of an independent monetary policy, is the issue of preparedness.
The development of an active interbank market and secondary markets as well as local capacity in liquidity forecasting and management is a pre-requisite for the successful implementation of monetary and exchange rate policy. This process requires active promotion and assistance by the Central Bank.