Reserve Bank of Vanuatu

Vanuatu monetary policy remains unchanged

This means the policy rate remains at 2.90 percent, the SRD ratio remains at 5.25 percent, and the LAR ratio remains at 5.00 percent. 

Other credit facilities of the Reserve Bank including Import Substitution and Export Financing Facility (ISEFF) & the Disaster Financing Credit Facility (DRCF) also remain active.  

In considering this decision, the RBV Board said it noted that global growth expansion is becoming less even and trade tensions rising.

Reserve Bank of Vanuatu warns cryptocurrencies are not legal tender

In addition to cryptocurrencies not being accepted as currency, the bank says, investing in them is “very risky and speculative in nature”

Recently, the RBV became aware that a few financial institutions are directly involved in some form of cryptocurrency business, and some are even marketing a Vanuatu-owned cryptocurrency.

ni-Vanuatu encouraged not to store cash at home

Mr Arthy made the statement after reports people in remote parts of Vanuatu often store cash at home, sometimes burying it.

He says if people have concerns about using banks the Reserve Bank is willing to address their issues.

The Reserve Bank last year conducted a survey to gauge opinions of how money is stored, and to draw up a National Financial Inclusion Strategy.

The strategy aims to ensure everyone participates in the country's economy.

BSP Investment under active consideration

“We have started the process this week and have held talks with the Government, the Prime Minister and the acting Prime minister,” RBV Governor Simeon Athy told Daily Post yesterday.

The Governor also confirmed that RBV has held meetings with Greg Pawson, General Manager of Westpac.

“We are in the process of talking to the Chief Executive Officer (CEO) of the BSP in the next few days and my colleague, Governor Loi Bakani of Papua New Guinea.