Unusual step from Central Bank
View(s):The Central Bank (CB) last week took the unusual step of explaining to the public and the business community, here and abroad, that the prorogation of Parliament hasn’t affected normal government business.
In a statement, the CB’s Public Debt Department said:
“By a Gazette notification, with effect from midnight on Thursday April 12, in accordance with Article 70 of the Constitution the President has exercised his constitutional right to prorogue the Parliament. The next Parliament session will commence on May 8. During this time, no motions or questions can be tabled in Parliament and any prior actions by Parliament remain valid. The prorogation of Parliament has no impact on the functioning and operation of Government.”
Economists and bankers didn’t recall any previous occasion, for example when parliament was dissolved in June 2015, where the banking regulator had issued any statement of this nature. “There seems to be a reason why it is being done this time,” one banker noted.