Press Statement issued by the Committee of Governors of Central Banks in the South African Development Community (SADC) At its meeting in August 1995, the SADC Council of Ministers approved the establishment of a Committee of Governors of Central Banks, as part of the Finance and Investment Sector in the SADC structure for the promotion of economic co-operation in Southern Africa. This Committee had its inaugural meeting in Pretoria today and representatives of the central banks of ten of the twelve member countries of SADC participated. General consensus was reached on the terms of reference for the Committee and a preliminary work programme covering monetary policy and financial matters of common interest for the member countries were agreed to. The Committee will inter alia at future meetings give further attention to the implications of the monetary policies applied by members for regional co-operation and development, exchange control issues, bank supervision and regulation and the development of financial markets in the region. C.L. StalsChairman: Committee of Governorsof Central Banks in SADC