BoN Hosts CMA Meeting

10 July 2023 | Media Release
  The Bank of Namibia recently hosted the central bank Governors of the Common Monetary Area (CMA), South Africa, Lesotho, and Eswatini, for the second quarterly CMA Governor’s meeting this year. Held in Swakopmund, the meeting aimed to build upon discussions from the previous gathering in Maseru, Lesotho, during March 2023, and asses the state of the economy in the region and progress on the implementation of the CMA strategy.

comprehensive analysis of the global economic and financial developments, recent economic developments in the CMA economies, and the common economic challenges facing the CMA economies was carried out. In addition, progress on various initiatives of the CMA projects, such as Central Bank Digital Currencies (CBDCs), Deposit Insurance Schemes, Cross-Border Payments, Exchange Control, and financial stability, were also discussed. Continuous engagements on these issues are important to supporting the macroeconomic stability of the CMA countries.