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BOZ explains Kwacha’s stability

US dollars pix

The Bank of Zambia says the kwacha has stabilized due to various incentives that the central bank and government have put in place.

In the past months the Kwacha depreciated trading between 6 Kwacha 50 Ngwee and 7 Kwacha to a US dollar.

Bank of Zambia Assistant Director for payment system, Lazarous Kamanga, was speaking to the press during a media tour of the Bank of Zambia stand at the ongoing 50th Zambia international trade fair in Ndola.

And Mr. Kamanga says the Central Bank is optimistic that the inflation rate will drop to 6 point 5 percent by the end of this year from the current 7 point 9 percent.

He says although the inflation rate is still high, the economy is on the right path because the rate is in single digit.

And director of finance, France Chipimo, says analysis shows that the country’s debt has remained sustainable.

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