Zambia’s Gondwe lauds interventions to support kwacha
Gondwe declares success of monetary policy to shore up a sliding kwacha
The governor of the Bank of Zambia, Michael Gondwe, has said recent efforts by the central bank to halt the depreciation of the kwacha were "successful in restoring relative stability in the foreign exchange market".
At a meeting of business leaders in Lusaka last week, Gondwe said the exchange rate had become decoupled from economic fundamentals after a slowdown in the mining sector led to a shortage of foreign exchange. The depreciation of the kwacha was accompanied by a build-up of liquidity
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