President Edgar Lungu has urged new Bank of Zambia governor Christopher Mvunga to strengthen policies that will ensure the financial sector remains stable and inflation brought to a single digit.
President Lungu also says current efforts to address debt sustainability and reduce the country’s debt service burden need to be sustained. He further says there is need to find efficient ways of financing agricultural inputs as well as managing the procurement of oil.
President LUNGU says the Central Bank should double its efforts to maintain stability in the foreign exchange market. He said this when he swore in Mr. Mvunga as Bank of Zambia Governor.
Others sworn in are MUMBA TEMBO as Public Policy Specialist and MARVIS SOLI as Public Policy Analyst at Cabinet Office.
And speaking in an interview, Mr. MVUNGA has assured Zambians that he will maintain the bank’s independence.
Meanwhile, President LUNGU has urged the Electoral Commission of Zambia -ECZ- to be firm and fair. President LUNGU said the ECZ is currently undergoing a credibility test ahead of the 2021 general election.
He said the actions and decisions of the institution are what will safeguard its credibility in the eyes of the people. The President said the Commission should not lose focus of its work just because some people are accusing it of bias. He said this is not the first time the ECZ is being accused of being biased and it will not be the last one.
President LUNGU said what is important is to make decisions that are in the best interest of the people. He said this when he swore in EMILY SIKAZWE as ECZ Vice Chairperson and Major general VINCENT MUKANDA as ECZ Commissioner.
And Dr. SIKAZWE said her team will work according to the law and the aspirations of Zambians.