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IMF Mission Team Arrives in Lesotho |
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IMF Mission
Team Arrives in Lesotho |
A Technical Assistance Mission of the Monetary &
Financial Systems Department of the International
Monetary Fund (IMF) arrived in Lesotho on February
23, 2005 at the invitation of the Central Bank of
Lesotho (CBL).
The IMF Mission is comprised of seven (7) legal
experts who will be providing technical assistance
to the CBL in the drafting of some laws related to
the National Payment System (NPS). The purpose of
the mission is to conduct an assessment after which
they will draw up a Technical Assistance Programme
between the CBL and IMF for the next 16 months in
the following areas:
a) Bank Supervision
b) National Payment System Reform and
c) Monetary Policy Operations.
During their stay in Lesotho, the IMF Mission will
hold discussions and consultations with various CBL
departments working directly with the related areas.
The visiting IMF Mission would also hold discussion
with the Ministry of Finance about liquidity
forecasting and financial instruments. Other
meetings will be held with Managing Directors of the
three leading banks in Lesotho, the Standard Bank
Lesotho Group, Nedbank Lesotho and Lesotho Bank 1999
(Pty) LTD. The meetings will discuss credit,
operations and treasury management.
The IMF Mission leaves Lesotho on March 07, 2005.
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