IMF urges central banks to be independent after change of Zambia’s governor

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington. REUTERS/Yuri Gripas

The International Monetary Fund is now calling upon central banks’ independence to be maintained, this is according to a statement in response to a change of Zambia’s central bank governor.

Zambian President Edgar Lungu on Saturday dismissed central bank governor Denny Kalyalya and replaced him with former deputy finance minister Christopher Mphanza Mvunga.

“Without credible institutions and sound policies, sustained economic growth and much-needed improvements in living standards will not be possible,” the IMF said.

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