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Bill: First Central Bank Independence Bill, 4473
Details
Submitted by[?]: Saída Pela Esquerda! (SPE)
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 4474
Description[?]:
| HONORABLE MEMBERS OF THE ASSEMBLEIA NACIONAL, SAFEGUARDING the interests of the Tukaranese people and seeing to the continuity of our economic stability; LAYING OUT new strategies for more comprehensive market-oriented policies, focusing on better state management; AIMING TO PREVENT undue political interference that hinders development, investment, employment, and growth; THE PST PROPOSES THE FOLLOWING, with considerations: (1) Independence of the Central Bank Our Central Bank (Banco Central Tukarese—BCT) is rife with the political meddling of new Finance Ministers as each election cycle comes and goes. The Ministry of Finance has been held by 3 different parties over the past 3 cabinet proposals, which would not be an objection had them not be of considerable opposing political views. The country’s monetary policy is too important to be left under the thumb of election-based politics and changing leadership. To foster steady growth and development, our Central Bank must have the ability to follow long-term goals and plans despite the changings of our government’s composition. Of course moving to a completely independent Central Bank can be an abrupt shock to our financial institutions. With that in mind, we motion to have the government appoint the Head and the Executive Board of our BCT, but let the appointed team operate without interventions. If approved, in 4 years’ time, we will motion for complete independence from the government. |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is underneath the direct oversight of the Ministry of Finance.
Current: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Proposed: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||
| yes | Total Seats: 86 | ||
| no |
Total Seats: 98 | ||
| abstain |
Total Seats: 71 |
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