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

4 COMMENTS

  1. The problem with moving from a crocked regime is that you may have people printing this money in their bedrooms right now as we discuss, so a change of currency is the best option.

  2. PF cadres are keeping millions IF NOT BILLIONS of kwacha of stolen cash in their homes and the only way to smoke them out is to change the currency. You will see how fast they will try to exchange with new currency. ThatS when we can catch them faster – WHERE DID YOU GET ALL THIS MONEY. The exercise can pay for itself through recoveries of stolen cash in PF former ministers, PSs and the like..

  3. Change of currency is inevitable though an expensive venture. There may be a lot of money being held up in homes of PF carders. And so it needs to be mopped out.

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