South African lawmakers get proposal to change central bank’s role

PUBLISHED: Wed, 21 Jun 2017 09:48:37 GMT

CAPE TOWN (Reuters) – South Africa’s parliament said it had received a request from the Public Protector’s office that the central bank’s constitutional mandate be changed.

Public Protector Busisiwe Mkhwebane, the head of the South African anti-graft agency, wants the central bank’s mandate changed from maintaining currency and price stability to acting in the interests of ordinary citizens.

“Parliament will consider the report through its usual internal processes and determine an appropriate course of action,” a statement from the assembly said.

(Reporting by Wendell Roelf; Writing by James Macharia; Editing by Larry King)

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