ZAMBIA RECORDS HISTORIC RESERVES MILESTONE AT US$5.2 BILLION
Zambia’s gross international reserves (GIR’s) have climbed to a historic high of US$5.2 billion, marking the strongest external buffer ever recorded in the country’s history. GIR’s refer to the foreign currency & related assets held by Bank of Zambia to support the kwacha, meet international payment obligations, & cushion the economy against external shocks.
The announcement was made by Finance Minister Dr. Situmbeko Musokotwane on the floor of the National Assembly of Zambia, following his Ministerial Statement on Zambia’s recent sovereign credit rating upgrades.
This milestone signals growing international confidence in Zambia’s economic reforms & strengthens the country’s position for sustained growth, stability, & resilience.
MOF
Sounds great, a step at a time correcting past wrongs
Ladies abd Gentlemen, this is very commendable especially looking at where we have come from, a situation default with debt as Country. Well done Government.
This is a significant achievement. A steady and persistent application of good economic policies will ensure more dividends in this regard.
Well done.