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Restrict non-essential imports to boost forex reserves - expert

Published on June 22, 2016

There is need for an aggressive export promotion strategy coupled with restrictions on non-essential imports to help improve Rwanda’s foreign exchange reserves and bolster the local currency. 

Robert Mathu, the Capital Market Authority executive director, said importation of items, like toothpicks and bleaching jellies, should be discouraged. He argued that such imports drain the country’s foreign exchange reserves but do not help improve the lives of Rwandans.

Mathu was reacting to a question on the role of the stock exchange in stabilisation of the local forex market during a one–day training of capital market reporters in Kigali on Monday. The training, which attracted over 30 business and economy journalists, was organised by CMA and the Media High Council. Read more. Source | New Times