Editorial

CENTRAL BANK MUST BE SUPPORTED TO SUCCEED

With changes of guards at the main regulator and controller of cash-flow in the country’s economy, there is hope that something will be done to tame the ever dwindling state of the local currency against the hard cash. Five years ago 10,000 SSP was more than what the neighbouring countries could turn into thousands of their own currencies. This is long gone although the leadership has tried to bring on board some brains considered to be over-reproach in the economic field yet nothing has changed to bring back the glory of the once powerful SSP. What could be this chronic disease which has taken so many heads but refused to be solved to enable the country’s socio- economic growth? Many theories have been advanced but none can stand the test of time. It needs to be practically addressed and with the new man at the helm, he will need the support of every citizen with good intention otherwise he would also exit just like the others without bringing back any noticeable change in the bank and the financial sector as a whole. Time must come when the local currency can be used to trade across the borders and be accepted in the region. Time has come when this reality must be born in mind and articulated without any doubt in mind. The success of the Central Bank will really depend on the cooperation and positive teamwork. This must come from all corners without blinking an eyelid. The stability of a central bank is the stability of a country, therefore this must be always the way to follow and support whoever is appointed there since the appointee alone cannot turn the ground without the support of key players including the existing and operational commercial banks and other financial entities.

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