11
May
The Institute of Economic Affairs (IEA) is calling for a strong legal system to support the Currency Board (CB) Lite System to achieve its goals. It believes a strong legal system is key to support the board particularly the enforcement of the applicable rules. “A strong legal system is key to support the board, particularly the enforcement of the applicable rules. It is essential because a currency board arrangement derives much of its credibility from the changes required in the Central Bank law”. The IEA had earlier proposed the establishment of a CB to limit the Central Bank lending to…