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Zambia appoints new central bank governor

Xinhua, February 14, 2015 Adjust font size:

Zambian President Edgar Lungu on Friday appointed a new central bank governor and urged him to put in place measures to stimulate economic growth.

The Zambian leader appointed Dr. Denny Kalyalya as the new Bank of Zambia (BoZ) Governor to replace Dr. Michael Gondwe who will be assigned a new role elsewhere, according to an official statement.

Kalyalya served as deputy governor of the institution during former president Levy Mwanawasa's administration till 2010 when he went to serve as alternate executive director of the Africa Group at the World Bank.

In 2012, Kalyalya was elected as board member of the World Bank for a period of four years.

The new governor has been given a three-year contract, said presidential spokesperson Amos Chanda.

The government, he said, would rely on the new central bank chief to take measures to stimulate the economy and widen participation of small and medium enterprises for employment creation. Endi