{"id":6898,"date":"2021-09-28T00:46:35","date_gmt":"2021-09-28T00:46:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor"},"modified":"2021-09-28T01:24:54","modified_gmt":"2021-09-28T01:24:54","slug":"denny-kalyalya-bounces-back-as-bank-of-zambia-governor","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor","title":{"rendered":"Denny Kalyalya bounces back as Bank of Zambia Governor"},"content":{"rendered":"

Africa-Press<\/a> – Zambia<\/a>. <\/strong><\/span>Denny Kalyalya has bounced back as Bank of Zambia Governor after he was fired by former President Edgar Lungu in August last year. According to a press statement released to the media by President Hakainde Hichilema\u2019s special assistant for Press and Public relations Anthony Bwalya, the president has. with immediate effect appointed Dr Denny Kalyalya as Bank of Zambia Governor in line with Article 214 of the Constitution of Zambia.<\/p>\n

In the same statement, State House announced the appointment Mr Mulilo Dimas as Attorney General and Mr Marshal Mubambe Muchende as Solicitor General.<\/p>\n

Last year in August Zambian President Edgar Lungu on Saturday summarily dismissed central bank governor Denny Kalyalya and replaced him with former deputy finance minister Christopher Mphanza Mvunga, a statement from State House said.<\/p>\n

\u201cPresident Lungu has terminated the contract of Bank of Zambia governor Dr Denny Kalyalya with immediate effect,\u201d said the statement, which did not provide reasons for the dismissal. Kalyalya, who previously served as a World Bank executive director, was appointed in February 2015 and had his contract extended in 2018 until 2023.<\/p>\n

His dismissal came barely three days after the central bank had cut its benchmark lending rate by 125 basis points to 8.0% to try to safeguard financial sector stability and protect livelihoods in the wake of the COVID-19 pandemic.<\/p>\n

President Lungu received widespread condemnation for firing Dr Kalyalya at the time. \u201cThere is no real motive here, there is no rationale to this decision,\u201d said Trevor Simumba. \u201cIt is something that has shocked everyone. It is very much a political decision.\u201d<\/p>\n

Mr Kalyalya \u201cwas just doing his job,\u201d Mr Simumba said. But the president wants a pliant central bank ahead of next year\u2019s election, he said. \u201cThe economy is on its knees, it is at rock bottom right now,\u201d Mr Simumba added. Mr Kalyalya\u2019s term had been due to end in 2023. Mr Mvunga\u2019s appointment is subject to parliamentary approval.<\/p>\n

The sacking was also criticised by Tito Mboweni, the South African former finance minister and former governor of the South African Reserve Bank, in tweets that later led President Cyril Ramaphosa to issue an official reprimand.<\/p>\n

\u201cPresidents in Africa must stop this nonsense of waking up in the morning and fire a central bank governor,\u201d Mr Mboweni said. Mr Ramaphosa said on Monday that the comments were \u201cunfortunate\u201d and \u201cthe issue is being addressed to ensure that such an incident does not occur again\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Denny Kalyalya has bounced back as Bank of Zambia Governor after he was fired by former President Edgar Lungu in August last year. According to a press statement released to the media by President Hakainde Hichilema\u2019s special assistant for Press and Public relations Anthony Bwalya, the president has. with immediate effect appointed […]<\/p>\n","protected":false},"author":84,"featured_media":6897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[234,235,3025,3026,233],"class_list":["post-6898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-bank-of-zambia-governor","tag-dr-denny-kalyalya","tag-zambia"],"yoast_head":"\nDenny Kalyalya bounces back as Bank of Zambia Governor - Zambia<\/title>\n<meta name=\"description\" content=\"Denny Kalyalya has bounced back as Bank of Zambia Governor after he was fired by former President Edgar Lungu in August ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denny Kalyalya bounces back as Bank of Zambia Governor\" \/>\n<meta property=\"og:description\" content=\"Denny Kalyalya has bounced back as Bank of Zambia Governor after he was fired by former President Edgar Lungu in August ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-28T00:46:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-28T01:24:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/09\/img-61526ecb3b84f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"449\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Denny Kalyalya bounces back as Bank of Zambia Governor\",\"datePublished\":\"2021-09-28T00:46:35+00:00\",\"dateModified\":\"2021-09-28T01:24:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\"},\"wordCount\":412,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/09\/img-61526ecb3b84f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Bank of Zambia Governor\",\"Dr Denny Kalyalya\",\"Zambia\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/denny-kalyalya-bounces-back-as-bank-of-zambia-governor\",\"name\":\"Denny Kalyalya bounces back as Bank of Zambia Governor - 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