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BoZ refutes claims that it printed K68m

The Bank of Zambia (BoZ) has refuted media reports indicating that it printed about K68 million which is believed to have vanished.
Some media reports indicate that the government has so far printed K68 million in order to finance the wage bill and pay some Chinese contractors.
The reports indicate that the government has authorized the printing money.
BoZ Deputy Governor Dr. Bwalya Ngandu says these reports are a total fabrication as there is a procedure in printing money.
And BoZ Governor Dr. Denny Kalyalya says the Central Bank has operational autonomy as enshrined in the Constitution.
Dr. Kalyalya says printing of currency is the preserve of the bank and is not subject to external influence.
He says the issuance of currency follows a strict process guided by the law.
“There is a set process and timetable, and each stage is subject to audit. Social media reports that state otherwise are untrue. We must be wary of fake news and its potential to dent economies,” Dr. Kalyalya said.

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