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Inonge Sifaya Lusaka, Zambia. “To be a modern, dynamic, credible, and effective central bank”

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Presentation on theme: "Inonge Sifaya Lusaka, Zambia. “To be a modern, dynamic, credible, and effective central bank”"— Presentation transcript:

1 Inonge Sifaya Lusaka, Zambia

2 “To be a modern, dynamic, credible, and effective central bank”

3 “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.

4  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)

5  Cost reduction because of durability of polymer notes  Easily recyclable (polymer easily converted to plastic products)  Improves security by reducing counterfeiting

6  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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