Developing country central banks cannot rush into full independence, Botswana governor says

linahmohohlo2
Governor Linah Mohohlo

There can be "no unilateral declaration of independence" for a central bank in a developing country seeking to engender price stability, according to the Bank of Botswana governor.

Instead central banks must make sure that they have "sufficient external support to nurture the beginnings of policy credibility", Linah Mohohlo said, during a panel discussion on October 10.

It was "important to adopt medium-term price stability as the primary objective of monetary policy", Mohohlo told a seminar in

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