March 5, 2014
Directions:
Answer four of the following seven essay questions. Essay answers should be in paragraph form using complete sentences. (No bullet points) Use APA style for citations as needed. Exams may be subject to student submission using Turnitin at the professor 's discretion. Your answers should be submitted as a Word file attached to an email sent to me by the start of class on March 5th. While brevity is the soul of wit, essay answers should err on the side of completeness versus brevity. That said, I don 't want to see the answer to any question go beyond two single-spaced typewritten pages using a font size of 10-12 points.
1. Congratulations! You have just been elected ruler of a …show more content…
Currently, the central bank’s interventions are limited and aimed at smoothing volatility in the market. In order to stabilize the currency, I will diligently work with the Bank of Sierra Leone (BoSL) and with the IMF to introduce a stringent stabilization policy and reduce our country’s debt. This policy will be aimed at first and foremost at tightening monetary regulations and reducing government borrowing. I will encourage the BoSL to move from a wholesale foreign exchange auction system to a retail auction system available to importers. This will enhance the currency’s stability in the market as well as improve competitiveness. I will also work with the BoSL to improve monetary policy signaling, address remaining gaps in banking supervision, monetary and foreign exchange operations. I will also work with the BoSL on access to finance in order to actively support initiatives to encourage the development of microfinance in rural areas. Lastly, and perhaps most importantly, I will continue to work with the IMF and the BoSL to develop a financial literacy campaign that will help to spread knowledge and motivation to continue efforts to stabilize the currency (www.imf.org,