By BENNIE MUNDANDOTHERE is an estimated US $5 billion in cash outside the banking Sector the Economics Association of Zambia (EAZ) has revealed.It has now proposed a two-year amnesty for both Kwacha and forex hoardings to facilitate repatriation back into the banking system without retribution pursued by investigative wings. EAZ president, Lubinda Haabazoka, has appealed to Government to declare a two-year amnesty so that the economy could benefit from huge amounts of money circulating outside the banking sector.Dr Haabazoka was speaking in an interview with the Daily Nation yesterday. “There is an estimated US $5 billion in cash outside the banking sector. We need that money to come in so that it can be used to cushion exchange rate volatility. We ask the Ministry of Finance to declare an amnesty.“As EAZ, we appeal for a two-year strict amnesty where nobody must be pursued for declaring whatever they are keeping at home,” he said.He also appealed […]
$5bn cash ‘hidden’
