A CALL made through your column in October has caught the attention of the Marape government to have an oversight on the independent function of the Central Bank.
So far as the management of the monetary and exchange rate policies are concerned, to create a conducive environment against capital flight and speculative pressure on forex market.
The outflow propensity on the supply and demand of foreign currency is not in equilibrium but over one point resulting in net depletion over a fiscal year.
Borrowings has been the order of business given lessor earnings or exporters not remitting in full or holding in some offshore accounts to earn better returns.
Whatever the case maybe, it is better to look at the bigger picture to create public confidence in the economy.