It was necessary for the President to have met his economic managers last Oct. 18 and discussed inflation, exchange rate and interest rates. MBOpinions READ:
It was necessary for the President to have met his economic managers last Oct. 18 and discussed inflation, exchange rate and interest rates. Our people should be reassured that today’s critical situation has the attention of those in the highest places. Unfortunately, the sound bites that resonated from the Palace were not exactly inspiring. We have to underscore this because it is the nation’s utmost interest that is at stake in that meeting, and that is our best wish.
Between the time the plan is completed and actually implemented, we need to secure its broad ownership by the rest of government and civil society. This is possible only if the citizenry is aware of what the government intends to do. A campaign platform or a track record would have been most useful. Second, the President also declared that “we will continue to use interest rates to mitigate the effects.” It is most reassuring for the people to hear no less than their head of state telling them what instrument to use to mitigate this inflationary scourge. But at the same time, that could trigger more comments.
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