2004News

CB denies intervention rumors

The Central Bank has also been purchasing advertising space this morning, with half-page advertisements aimed at denying the rumor that the CB has planned a further intervention either in the exchange market or an unnamed financial institution. It claims that these rumored reports are part of a deliberate campaign to undermine confidence in the economy. It reminds the public that there is a banking audit underway, supported by the International Monetary Fund, and that this does not amount to an “intervention” as alleged. Recently, Central Bank Governor Jose Lois Malkun said that “under no circumstances” would the government intervene in the currency exchange sector.