A monetary policy report released by RBM has forecasted that the exchange rate of the local currency will be stable this year.

Confidence in the above has been attributed to adequate foreign exchange reserves, as figures on the report show that gross official reserves rose to $846.6 million representing 4.05 months of imports in December 2019 from $656.0 million representing 3.14 months of imports in September 2019.

On the other hand, private sector credit for 2019 went up 11.5%, registering an impressive 21.3% increment. RBM Governor Dalitso Kabambe outlined that the 13.5 interest rate brought stability in the country as commercial banks have for a great part of the year also maintained their lending rate.

On the other hand, the report also shows that private sector credit for 2019 went up 11.5%, registering an impressive 21.3% increment. RBM Governor Dalitso Kabambe outlined that the 13.5 interest rate brought stability in the country as commercial banks have for a great part of the year also maintained their lending rate