statement by UDM Co-leaders

The Government must announce as soon as possible a successor for Dr. Chris Stalls as President for the Reserve Bank. The announcement by Dr. Stalls that he will not be available again once his contract expires in July 1999 coupled with the change in government just before Stalls vacates his position might bring too much uncertainty to the financial markets. The UDM believes that government would act responsible if it sends out a clear message on who will take over. The timely announcement of a successor would provide the financial markets the opportunity to settle down and would reduce the effect it would have when the actual changeover takes place.