The ERPB could investigate how a pan-European electronic invoicing landscape could be enriched with more efficient links to payment services. By replacing paper invoices with electronic ones and creating a seamless link between the invoicing process and payment initiation, significant resources can be freed up and used for other purposes.
But the Reserve Bank’s mandate is clear and that is inflation and foreign reserves come first and growth later. If we cannot safeguard the first two, growth will virtually be impossible. We are now reviewing our entire monetary policy package which will take into account this difficult balancing act. Remittances Let me talk about remittances for a minute.