Article Title

Central Bank Independence in the Southern African Development Community: Legal Reform Progress and Prospects

Authors

Mzwanele Mfunwa, UN Economic Commission for Africa
Henry Lubinda, UN Economic Commission for Africa

Abstract

Public commitments by political leaders to fast-track economic integration in the Southern African Development Community (SADC) have been at variance with the extremely slow pace of domesticating the 2009 SADC Central Bank Model Law. This paper identifies specific legislative gaps in the national central bank laws that member states need to address in order to enhance institutional uniformity and promote central bank independence in the SADC region. Countries with recent amendments have made adjustments for more compliance, while others have not done so. The paper recommends that member states should speedily effect the needed legislative alignments if the frequently delayed economic integration agenda is to move apace.

Recommended Citation

Mfunwa, Mzwanele and Lubinda, Henry (2018) "Central Bank Independence in the Southern African Development Community: Legal Reform Progress and Prospects," Southern African Journal of Policy and Development: Vol. 4: No. 1, Article 5.
Available at: https://scholarship.law.cornell.edu/sajpd/vol4/iss1/5