The finance minister says his comments have got him into ‘trouble’, but he stands by the statement
SA finance minister Tito Mboweni is sharply critical of the shock dismissal by Zambian President Edgar Lungu of the country’s central bank governor, Denny Kalyalya.
“The point here is that the independence of the central bank matters, with the experience of other emerging and developing economies bearing testimony to this,” said Kganyago Then on Sunday Mboweni wrote without providing any explanation: “Looks like I am in trouble about my statement on the dismissal of the Bank of Zambia governor. I stand by my statement. Central bank independence is key. Not negotiable. Let all central bankers speak out!”
Bloomberg quoted Lusaka-based economist Trevor Simumba as saying that Mvunga was not capable of being a central bank governor. He praised the performance of Kalyalya.
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