BOZ : Zambia’s Re-Classification Economic Status will Take Time To Manifest

The Bank of Zambia (BOZ) has said the benefits of Zambia’s re-classification as a lower middle income status country will take time to manifest into better lives for the people on the grassroots.

BOZ deputy governor Austin Mwape says the indicators of poverty in the economy in the present time in comparison to the 1990s show an improvement in the lives of people.

Dr. Mwape has however acknowledged that the country still faces challenges in the distribution of wealth but that there is positive economic growth being recorded so far.

He says adjustments processes in the country%u2019s economy after graduation from one class to the other take some time adding that people will eventually benefit from the growth.

And the Central Bank deputy governor has said the bank has necessary intervention measures to curb the high levels of counterfeit notes in circulation.

He says currently the amount of counterfeit notes in circulation has not reached a level where the central bank can apply intervention measures but has cautioned the public against engaging in printing counterfeit notes.

Posted by Admin on August 3, 2011. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry