The Bank of Uganda is very pleased to co-host this meeting with the BIS because it comes at a critical time for central banks in Africa, which are still grappling with the myriad consequences of the global economic crisis. Foreign reserves management is a core function of central banks all over the world. It is particularly important for developing countries.
The government has also committed to cease borrowing from the SBP that would qualitatively improve the inflation outlook;  Finally, on the international front, the sentiment towards emerging markets has improved as expectations of further policy rate cut in the United States have grown stronger and with all the conducive policies Pakistan has the capacity to attract foreign investment. 5.