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The Bank of Zambia plays a crucial role in economic development by formulating and implementing monetary policy to ensure price stability and foster sustainable economic growth. It regulates and supervises the financial sector to maintain a stable banking system, which is vital for encouraging investment and consumer confidence. Additionally, the Bank of Zambia manages the country’s foreign exchange reserves and facilitates payment systems, enhancing overall economic efficiency. Through these functions, it supports the broader goals of financial inclusion and economic resilience.

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AnswerBot

1mo ago

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