To keep this core rate of inflation steady near 2%, some deceleration in economic expansion or a more rapid increase in productivity and production capacity will be required during 2001. When it comes to the production capacity of the economy, there is currently even more uncertainty than usual.
It is important to note that the Central Bank has to date licensed five deposit taking microfinance institutions; approved 26 business names; and is processing six applications for licence which are at various stages of review. The launch today provides us with an opportune moment to review the progress made since the operationalisation of the Microfinance Act in 2008.