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Published byHannah George Modified over 8 years ago
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Inonge Sifaya Lusaka, Zambia
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“To be a modern, dynamic, credible, and effective central bank”
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“To ensure appropriate monetary policy formulation and implementation” Regulation of money supply and interest rates to impact the economy by Effective cost of money Amount of money spent by consumers and businesses.
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2003 :Bank of Zambia announces use of Polymer Banknotes Zambia, 1 st African Country to use the banknotes Polymer notes first introduced in Australia(1988) As of 2008 Zambia (22 nd Country) to use polymer notes in the world Notes technology designed by the Commonwealth Scientific and Industrial Research Organization (csiro)
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Cost reduction because of durability of polymer notes Easily recyclable (polymer easily converted to plastic products) Improves security by reducing counterfeiting
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Estimated replacement over a five year period(polymer notes 12mths,paper notes 3mths) Reduction in the cost of procurement of paper notes and polymer notes
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