I am pleased to say that during these past five years we have recorded remarkable achievements in all these areas. On the inflation front, I am sure you are aware that we maintained low and stable inflation levels averaging 5% per annum; Some of the best results in Africa.
However, while we are paying around 5 per cent (linked to the current repo rate) on these transactions, we earn very little on our holding of foreign exchange reserves. This is because the ongoing global financial crisis has resulted in abnormally low interest rates in the advanced economies. And it is the currencies of these countries that are held as our reserves.