Senate passes RBZ reform Bill

Senate passes Rbz reform Bill
10/03/2010 00:00:00 by Lebo Nkatazo Reforms ... Finance Minister Tendai Biti Related Stories

THE Senate on Tuesday passed the Reserve Bank of Zimbabwe (RBZ) Bill which now awaits President Robert Mugabe’s signature for it to become law.

The Bill was passed in its original form as amended and passed by the House Of Assembly last year after the upper chamber rejected nine amendments that were proposed by Chimanimani Senator Monica Mutsvangwa.

The Bill, which had been stalled in the Senate for three months, was rushed through the Senate after Zanu PF were whipped into supporting it at a caucus meeting held on Monday last week.

In urging senators to reject the Senator’s proposed amendments, Finance Minister Tendai Biti said Mutsvangwa was going back on issues already agreed to in Cabinet and the Lower House.

Biti said: “... what she was proposing was an issue that we extensively discussed in the Lower House and in Cabinet and it is the real issue that the bank should stick to its core business of monetary policy management and stabilisation of the Zimbabwean dollar.

“In Section (D),... ...

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