Barclay Bank to stay

Barclay Bank Zambia Managing Director Saviour Chibiya says the bank is not closing but merely reducing its shareholding in Barclay’s Africa on the London Stock Exchange.

Mr Chibiya says the listing on the London Stock Exchange has made it difficult through the regulations which apply to the global financial institutions.

He said this in an interview with ZNBC News in Lusaka.

Meanwhile, a team from the International Monetary Fund -IMF- will visit Zambia from 9th to 18th March, to assist in reviewing the current macro-economic situation. The IMF will seek to provide options for addressing the macroeconomic challenges facing the country.

Ministry of Finance Public Relations Officer Chileshe Kandeta says this follows Cabinet’s decision to pursue an IMF supported programme within 2016.

Mr. Kandeta says the IMF has made it clear that it welcomes the continued engagement with Zambian authority

es and stands ready to assist in any way it can.

And Secretary to the Treasury Fredson Yamba has affirmed that the forthcoming mission is a continuation of the IMF engagement with Zambia.