' s interests. it is a question of putting a danish fingerprint on the key discussions and decisions that are shaping and developing the monetary - policy framework for the euro area and this area's influence on global economic policy in a broader sense. the governing council of the ecb has decided that when the number of euro area member states reaches 19, i. e. three more than at present, it will introduce a rotation system in relation to voting in the governing council, as is already the case in the federal reserve. when this system is introduced, the central - bank governors of all euro area member states will, for short periods, be unable to vote in the governing council, but they will all participate fully in the meetings and be entitled to speak. in my assessment, this system will not significantly reduce the influence of the individual central - bank governors in the governing council.

caleb m fundanga : brief background to the finscope zambia 2005 survey speech by dr caleb m fundanga, governor of the bank of zambia, as background to the finscope zambia 2005 survey, lusaka, 8 november 2006. * * * hon. ministers and deputy ministers ; secretary to the treasury hon. members of parliament ; your excellencies and members of the diplomatic corps ; representatives of development agencies ; chief executives of banks, regulatory authorities and financial institutions ; distinguished invited guests ; and ladies and gentlemen. on behalf of the financial sector development plan ( fsdp ) secretariat, it is my pleasure to present a brief background to the finscope zambia 2005 survey. ladies and gentlemen - in recognition of the strategic importance of the financial sector to the country ’ s development and poverty reduction efforts, in 2003 government launched a project to formulate the first financial sector development plan ( fsdp ) which was approved by cabinet in 2004. this followed the joint world bank and international monetary fund ( imf ) financial sector assessment programme ( fsap ) report of 2002, which identified various weaknesses in the zambian financial system including the following : • unstable macro - environment • low financial intermediation • no formal structures for a financial safety net • poor credit culture • weaknesses in the regulation and supervision of non - bank financial institutions. since the approval of the fsdp in 2004, a number of weaknesses have been addressed. these include : • stable macroeconomic environment as reflected in single digit inflation, reduction in lending interest rates and a stable exchange rates • amendments / harmonisation of financial sector legislation such as the development bank of zambia ( dbz ) act, the national savings and credit act ( nsca ), the pensions and insurance act, the building societies act ( bsa ) and the banking and financial services act ( bfsa ) in 2005. • establishment of a credit reference bureau in 2006 ; and promulgation of microfinance regulations in 2006. honourable minster – the production of market knowledge on the supply and demand for financial services in zambia was identified as one of the priority areas under the fsdp. in this regard, finmark trust of south africa was contracted by our cooperating partners the swedish international development agency ( sida ) and the united kingdom ’ s department for international development ( dfid ) to undertake this important activity and subsequently, the finscope zambia 2005 survey, a comprehensive demand - side survey of consumer interactions with financial markets in zambia, was conducted in