MPs rally behind International Financial Organisation Bill

source: BOPA
26 March, 2010

GABORONE – Parliament on Wednesday threw its weight behind the International Financial Organisation (Amendment) Bill as it sailed through its second reading with relative ease.

Presenting the bill earlier on, Minister of Finance and Development Planning, Mr Kenneth Matambo, said requirements of the International Monetary Fund (IMF) precipitated the move.

All IMF members were required to have accepted the amendment to the IMF Articles of Agreement by end of last year, and Minister Matambo said Botswana could not do so due to a tight parliamentary schedule.

The bill proposes to amend the IMF Articles to enhance the investment authority of the fund to allow it to use a members currency held in the investment account for [continue reading]

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