Zambia’s de-dollarization plan aims to strengthen the stability of the Kwacha

Zambia’s latest move to restrict the use of foreign currency in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and continues to consult with market participants, with no set date for implementation. Kalyalya highlighted that the use of foreign currency hinders monetary efficiency (…)