By Phiwa Sikhondze
The Central Bank of Eswatini (CBE) will host the CMA Governors’ Meetings from 14 to 17 November 2023.
The Governors’ Meetings bring together the central bank governors from Lesotho, Namibia, South Africa, and Eswatini to discuss monetary policies and regional integration.
The Common Monetary Area (CMA) is a regional integration body focusing on monetary issues, under which the smaller member states’ currencies are all pegged on a one-is-to-one with the South Africa Rand.
The objective of these meetings is to promote economic growth and stability in the region by coordinating monetary policy and exchange rate policies.
The meetings will provide an opportunity for the central bank governors to exchange views on recent economic developments in their respective countries and to discuss matters of mutual interest, such as the impact of the COVID-19 pandemic, the climate change crisis, the digital transformation, and geopolitical tensions.
According to the CBE Governor, Dr. Phil Mnisi, the CMA Governors’ meetings are an important platform for regional cooperation and collaboration in monetary policy.
Speaking during a media engagement dubbed “Coffee with the Governor”, Mnisi said that the meetings help to ensure that the monetary policies of the member countries are aligned with each other and contribute to the overall economic development of the region.
The Governor further disclosed that the meetings will be closed to Governors and senior officials of these countries.
As part of the November 2023 CMA Governors’ meetings, the CBE will host a symposium on the theme “Global Spillover Effects into the CMA Region,” which will also bring together the central bank governors from Lesotho, Namibia, South Africa, and Eswatini.
The symposium will be held on 17th November 2023 at Happy Valley Hotel and aims to discuss the impact of global developments on the CMA region and devise mechanisms or ways to respond to the challenges and opportunities that arise from them.
The keynote speaker for the symposium will be Lesetja Kganyago, the Governor of the South African Reserve Bank.
The symposium will also feature a panel discussion by the Governor of the Bank of Namibia, Johannes! Gawaxab and the Governor of the Central Bank of Lesotho, Dr. Emmanuel Letete, who will share their views and experiences on how their respective countries have been affected by and responded to the global spillover effects.