Q FM Africa's Modern Radio
Bank of Zambia Governor Michael Gondwe has assured the nation that the financial sector and the Zambian economy remain fundamentally strong and resilient in the wake of President Michael Sata’s demise.
Dr Gondwe in a statement obtained by QFM News says this resilience has been demonstrated this year through the challenges faced in the foreign exchange market over the first half of the year,the measures taken to address challenges, and the relative stability seen over the third and fourth quarters of the year.
The Central Bank Governor adds that the financial sector remains well capitalized and sound.
Dr Gondwe further states that the central bank stands ready to provide support to the market as required during these difficult times.
He states that the fundamental drivers of the economy remain in place that the propects for 2015 and beyond continue to be bright.
Dr Gondwe notes that at a time like this it is expected that financial market may become unsettled leading to investors and individuals taking measures that reflect market uncertainty rather than any change in the fundamental strength and resilience of the economy.
He points out that the central bank has seen some of these uncertainties reflected in the foreign exchange market.
The Bank of Zambia Governor has since conveyed deepest condolences to the first family on behalf of the Board, Management and staff.