Kalyalya dismissal will send far-reaching ripples beyond economy – CSOs

A CONSORTIUM of Civil Societies Organisations (CSOs) have predicted negative ripple effects to Zambia’s economy following the dismissal of Bank of Zambia (BoZ) governor Dr Denny Kalyaya. The CSOs which included ActionAid Zambia, Centre for Trade Policy and Development (CTPD) and Transparency International Zambia (TIZ), among others, warned that Dr Kalyaya’s abrupt dismissal would result in loss of confidence in the economic management of the economy. Speaking during a media briefing in Lusaka, Wednesday, CTPD executive director Isaac Mwaipopo said President Edgar Lungu’s dismissal of Dr Kalyaya would negatively impact the country’s financial markets, including the foreign exchange market, with the kwacha having already depreciated against major currency convertibles since Saturday. “Following the press statement issued by the President’s Press…...