IMF commends BoZ

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THE International Monetary fund (IMF) has commended the Bank of Zambia (BoZ) for effective management of monetary policy that has seen inflation maintained in single digit for quite some time. IMF Country representative for Zambia Perry Perone says Government’s macroeconomic policies have contributed to the single digit inflation outcome. Responding to a Daily Mail press query, Mr Perone said the Government’s prudent fiscal policies have been a key to avoiding large domestic borrowing. “The introduction of the monetary policy rate, and use of a broad set of economic indicators including monetary aggregates to assess the monetary policy stance, should make monetary policy more flexible and forward looking, enhance liquidity management, and better shape the transmission mechanism,” he said.

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