The challenge is on the RBA and other players in the industry to increase the level of coverage and hence further strengthen the asset base of the industry. |
The Government?s policy is to reduce the wage bill to free resources for development purposes. |
The issue poses a major challenge as nobody seems ready to bite the bullet. |
This will ensure fairness since the two envisaged regulators have no conflict of interest in the industry. |
We (at Treasury) and the Central Bank are concerned about the strengthening shilling and are holding regular meeting, but an intervention would create speculative tendencies that may prove even more difficult to contain. |