LONDON (Reuters) – The International Monetary Fund said on Monday central banks’ independence must be maintained, in a statement in response to a change of Zambia’s central bank governor.
Zambian President Edgar Lungu on Saturday dismissed central bank governor Denny Kalyalya and replaced him with former deputy finance minister Christopher Mphanza Mvunga.
“Without credible institutions and sound policies, sustained economic growth and much needed improvements in living standards will not be possible,” the IMF said.
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.