By BENNIE MUNDANDOTHE Bank of Zambia (BoZ) has pumped in a K10 billion medium-term refinancing facility to provide medium term liquidity which will be reviewed as conditions warrant.This is one of the comprehensive measures to safeguard financial system stability, promote the greater use of digital financial services and mitigate the negative effects of this shock on the economy in the wake of the Covid-19 which is ravaging the whole world.BoZ Governor Denny Kalyalya yesterday said this was a three to five years facility that will be available to eligible Financial Service Providers (FSPs) to enable them restructure or refinance qualifying facilities or lend to eligible clients.Dr. Kalyalya said detailed implementation guidelines will be rolled out as soon as the on-going discussions with the Bankers Association of Zambia are concluded.He said although the full impact of the Covid -19 shock on public health and the economy could not be determined at the moment, indications were that […]
BoZ acts to boost economy
