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Alba Iulia
Wednesday, February 26, 2020

It is not true that Bill Number 10 will take away Bank of Zambia Powers

Economy It is not true that Bill Number 10 will take away Bank...

Bank of Zambia
Bank of Zambia

The Bank of Zambia has said that it is not true that the Constitutional Amendment Bill number 10 of 2019 will take away its powers to print the currency and supervise the financial sector.

The Bank says contrary to social media reports, the Central Bank will continue printing the currency as well as supervise the financial sector.

The Central Bank says reports suggesting that the printing of money will be done by the Central government through cabinet are not correct.

The Bank says the submission it made to the National Dialogue Forum (NDF)  is aimed at allowing it to perform its primary objectives while pushing the other functions to subsidiary legislation.

The Central Bank has argued that this submission is in line with best practices and complies within the SADC model Law of Central Banks which encourages Central Banks to adopt a single primary objective.

The Bank said it further submitted to the government that the primary function of the Bank should be to formulate and implement monitory policy.

This is contained in a statement made available to media by Bank of Zambia Communications division.

 

Below is the full statement

 

[Read 4,475 times, 3 reads today]

13 COMMENTS

  1. Not all the clauses are good and that is why we needed the opposition to debate and make amendments but alas…Just stop defending the bill, let government just drop the bill completely. Hh opposed the referendum on the bill of rights, Hh has opposed amendment bill 10, he supported futu on homosexuality, after seeing the backlash, he has gone mute. In short this man doesn’t know what he stands for-best description of chipante pante. I have not talked about UPND because to me it doesn’t exist, only hh does. Sombi nga nibo. I

    • So now the counter propaganda from PF has started. They defer the bill in order to spread propaganda to try and gain support for this devilish bill, hoping that the tide will turn. And in the background they are working out and trying to implement some subterfuge scheme to pass the bill through discrete means. We are not unaware of you schemes ba PF and we wont ease the pressure.

    • Anyone with half a brain who has read the bill will easily see that the bank of zambia will lose significant powers to regulate the monetary sector. Just like you are trying to strip parliament of the powers of approving debts. essentially you are trying to give the executive tyranny in every sector. Trying to strip the other arms of government of their power. Trying to strip all the commissions that are guaranteed of independant power to monitor you activities. So that at the end of the day you will be accountable to no one. You want to steal and no one will call you to account. You want to commit all sorts of atrocities and no one will call you to account. Please PF, we are not children. The very fact that you think we are naive drives us all the more to fight yoi nail and tooth

    • I told you guys PF bandits will bring alot to distract Zambians from collapsed economy, load shedding, hunger etc….this is their tactic and i see Zambians falling into the trap….bill 10, fake ACC arrests,homosexuality etc and expect more distractions is we approach elections….and before you realize,Zambians will vote for PF bandits again….notice no one is talking about the economy and load shedding anymore…..donchi kubeba

  2. An educated man like kalyalya reduced to a mere mouth piece of pf and president kaizer zulu. This is what poverty can do. No one is immune. It’s a sickness

  3. Zambians please read and understand what is contained in the bill before making fools of yourselves by posting uneducated and uninformed comments. We need to develop a culture of reading and not just making noise.

    • Even without reading, anything being pushed by PF and lungu is highly suspicious and caution is advised.

      There have been too many highly emotional scandels like 42/42, enswatini land, 48 mansion with unverified ownership that lungu and GRZ do not bother addressing…..

  4. You are all useless criminals, we all know that these amendments are to help the Proved Fools (PF) to cling on to power and kill the opposition. Why wasn’t this same Bill 10 not take to the people and have their views? Unlike imposing this chi Bill 10 on them!! The main purpose of this bill 10…All the PF are crooks and they have noticed the wind of is here. Let me tell you ba pf, if God is not there,you will succeed in your evil doings of manipulating the constitution to suit your criminal minds, but if Jehovah God lives,the one who created this earth and the heavens, all living things,the air and the waters, you will not succeed and He will make you blind. Pharaoh of the is the best example.Speak Matibini also acting like a grade 7 failure.

  5. PF can not bring distract to Zambians neither is the Economy that bad. Load shedding is coming to an end now, look at what the Government has done for this country, infrastructure, roads etc,learn to appreciate, people!
    Why should you blame the Government of today about the 48 houses and how does the Government come in?. Please write something which is adding more value to the Government.

    • “…..look at what the Government has done for this country, infrastructure, roads etc,….”

      At what cost was the infrastructure done at ???
      Zambia now owes $17 billion…..you talk like PF done that infrastructure out of Zambias own generated resources.
      FYI , even a mental grade 7 patient given that borrowed money can build that infrastructure..
      And would probably have max employment by now.

      48 mysterious houses are a big issue with all this corruption going on, even forigne embassies are now signing about PF corruption.

      90% of civil servants now see stealing and corruption as normal…..

  6. When God was giving sense….UPND MPs,Councillors,HH and supporters where busy playing hide and seek. Bill number 10 never said that Bank of Zambia will no longer be in charge of regulating the printing of money.

  7. Its not normal to agree to abnormal PF manipulations and currency machination. We dont expect BoZ to agree after all. But the truth will come to pass and peoples fears will come to resurface like a hidden pregnancy.
    I agree with Sapka,”Even without reading, anything being pushed by PF and lungu is highly suspicious and caution is advised.” PF is full of trickery and deceit!!!
    Disaster!!!

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