Technical working group composed of MoF and CBL staff to prepare a proposal as to timing and possible terms of conversion of part of Central Government debt held by the CBL.
Introduced at R3 to replace a previous benchmark on the conversion of 20 percent of non-marketable Central Government debt held by the CBL into T-bills. Justification: Provide the CBL with a stock of T-bills that can be used to conduct monetary policy.