New Bank of Zambia powers help tackle tax avoidance

Copper is Zambia's largest export

The Bank of Zambia has acquired new powers for monitoring the country's foreign exchange system and balance of payments, which economists believe is part of a campaign to crack down on tax avoidance.

Zambia's parliament approved an amendment to the Bank of Zambia Act earlier this month, which specifies the central bank "may, to promote the efficient operation of the foreign exchange system, take measures to monitor" a range of capital flows in and out of the country, including foreign exchange

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