Zambia's parliament on Thursday ratified the appointment of new central bank governor Christopher Mvunga despite criticism from some opposition members of the house that he was not qualified for the post.
Zambian President Edgar Lungu summarily dismissed central bank governor Denny Kalyalya on August 22 and replaced him with Mvunga, a former deputy finance minister.
The unexplained removal of the respected Bank of Zambia governor was controversial locally and globally, with critics saying it undermined the independence of the central bank.
The International Monetary Fund responded to the decision in August by saying that developing countries had enjoyed prosperity in recent years partly as a result of increased central bank independence.
Kalyalya, previously a World Bank executive director, was appointed in February 2015 and his contract was extended for five years in 2018.
Debating the motion, former finance minister Situmbeko Musokotwane said the position of central bank governor required a good macroeconomist while Mvunga's background is in accountancy.
"We are taking a serious risk, especially now that we are in a crisis," said Musokonwane, who also previously served as the central bank's deputy governor.
Finance Minister Bwalya Ng'andu said Mvunga's experience in commercial banking and public finance qualified him for the job.
"He will not compromise the operational independence of the the central bank," Ng'andu said after opponents accused the government of appointing Mvunga because he was close to the ruling party.
Seen by political analysts as an ally and close friend of Lungu, Mvunga was most recently deputy secretary to the cabinet in the finance and economic development unit.
He was a senior auditor at Deloitte between 1988 and 1993 before working in the banking sector.
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