In sum, the preventive arm of the Pact, as recently revised, provides a useful framework for surveillance and benchmarking of sound fiscal policies and the reform might strengthen the pertinent provisions. However, if it is implemented in a minimalist fashion, the required adjustment and fiscal policy paths may not be consistent with determined consolidation, sufficient safety margins and adequate debt reduction.
Even third party observers have attested to the fact that Botswana has a highly profitable banking sector which operates in a solvent, soundly managed but not overregulated financial system. We must build on this foundation in all facets of our business and aim at providing excellent service at all times.