The days of ‘never excuse, never explain’ and central banks acting as opaque and secretive institutions were over for good. [SLIDE 29] Transparency, accountability and efficiency:.. A high degree of transparency is an important tool for an independent central bank like the ECB, as it facilitates accountability. We are accountable to achieve our mandate, price stability.
This may relieve an investor from having to remit funds on a periodic basis to assist families and relatives in Jamaica and from having to incur high money transfer fees. On the government side, there will be little or no pressure on the Jamaican currency to service debt interest payments.