By BUUMBA CHIMBULU
ZAMBIA’S foreign exchange market is still deemed to be operating in a manner that is consistent with market principles, as evidenced by the absence of parallel structures such as the black market.
And the country’s gross International Reserves increased to US$3.3 billion, largely driven by the disbursement from the International Monetary Fund (IMF) and the World Bank.
This is according to the Bank of Zambia (BoZ) Governor, Denny Kalyalya, at a media briefing to announce the Monetary Policy Rate for the first quarter of 2024 on Wednesday.
During the briefing, Dr Kalyalya, in his comment on the foreign exchange, stressed that despite the pressure in the foreign exchange market, it was still deemed to be operating in a manner that is consistent with market principles.CLICK HERE TO READ MORE
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