To that end, monetary policy instruments were used such as the absorption of Central Bank securities (Lebacs and Nobacs) which, far from being conventional debt securities – they are backed by reserves – make up liquidity “cushions” that may be used in turbulent situations.
We are indeed pleased to see that our hard work is now bearing fruit and the system, which will contribute immensely towards the expansion of intra-regional trade and towards COMESA’s Regional Integration Agenda, will soon be operational in all COMESA countries, as per decisions of the COMESA Authority of Heads of State and Government.