Don’t change currency abruptly, UPND told

Don’t change currency abruptly, UPND told

BANKERS ASSOCIATION OF ZAMBIA WARNS AGAINST CURRENCY CHANGE-OVER

By Michael Kaluba

The Bankers Association of Zambia-BAZ says the Central Bank of Zambia must be cautious if it opts to adopt the proposal to change the currency in order to address the current shortage of cash.

Green Party Leader Peter Sinkamba recently proposed that government must swiftly intervene in the prevailing cash crisis in the country by affecting a currency change-over.

But Association Executive Director Leonard Mwanza says changing the currency will be an expensive undertaking and will cost the tax payers if not cautiously done.

Mr. Mwanza argues that the central bank is mandated to handle gaps in the flow of cash and must carefully choose a path to take and choose between printing lore of the current currency or change the currency in totality.

PHOENIX NEWS

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