SPY441.40-4.34 -0.97%
DIA345.64-1.80 -0.52%
IXIC15,043.97-137.96 -0.91%

Zambia c.bank holds rates, reserves boosted by IMF drawing rights

reuters.com · 09/01/2021 04:38
Zambia c.bank holds rates, reserves boosted by IMF drawing rights

- Zambia's central bank left its benchmark lending rate unchanged at 8.5% on Wednesday, as the bank's governor said fiscal discipline and the conclusion of an IMF lending programme were critical for economic stability.

Christopher Mvunga told a news conference the country's international reserves had risen to $2.9 billion at the end of August, boosted by an allocation of IMF special drawing rights.



(Reporting by Chris Mfula and MacDonald Dzirutwe
Writing by Alexander Winning; editing by John Stonestreet)

((alexander.winning@tr.com; +27 10 346 1076))