Fri, 24 Feb 2017 10:01:56 +0000 By BUUMBA CHIMBULU NON-RESIDENT investor’s holding of Government securities in the fourth quarter of 2016 increased by K3.7 billion, an indication that investors still have confidence in the Zambian economy, the Bank of Zambia (BoZ) has revealed. The Central Bank also announced that foreign reserves as at December 2016 stood at K2.4 billion. BoZ governor Denny Kalyalya explained that non-resident investor’s holding of Government securities in the quarter under review increased to K6.6 billion from K2.9 billion, representing an increase of K3.7 billion. “They are investing in bonds which are longer investments. To us, this signifies that they are seeing better prospects going up and it implies that they could be of the view that the current high yields rates could be coming down,” he said. He was speaking at a media briefing in Lusaka when he announced the monetary policy rate for the 2016 fourth quarter. […]
Govt foreign reserves in 4th quarter of 2016 stood at k2.4 billion
