’Zambia’s Financial Reforms Bear Fruit’

AFRICA Export and Import Bank (Afrexim) has said Zambia’s financial reforms and monetary policies are bearing fruit as evidenced by continued economic growth.

Afrexim bank president Jean Louis Ekra praised Zambia for implementing sound financial reforms and prudent monetary policies that helped the country maintain a positive balance between inflation control and economic growth.

He said Zambia’s financial reforms coupled with prudent monetary policies were bearing fruits as was evident by the continued growth the country had achieved over the years.

Mr Ekra commended the Zambian Government and Bank of Zambia (BoZ) for maintaining sound growth over the years owing to the policies being implemented.

He said this in his key note address on the role of China in Africa’s development at the BoZ Golden Jubilee gala dinner in Lusaka on Wednesday evening.

“Zambia has continued to record sound economic growth over the years, I therefore, would like to congratulate the Government and the Bank of Zambia for implementing financial reforms and conduct monetary reforms that kept a positive balance between inflation control and economic growth,” he said.

On China’s role in Africa’s development, Mr Ekra said there was need for Africa to accelerate its industrial agenda and become a fully-fledged participant in the global value chains.

Africa has huge potential for industrial development but it is important for the continent to develop an industrial sector that uses mainly raw materials produced domestically.

Speaking at the same function, BoZ Governor Michael Gondwe said the bank had undergone significant changes over the past 50 years and contributed to the economic management and global financial system.

Source : The Times of Zambia

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