Economics
Kalyalya Returns as Bank of Zambia Governor After Shock Exit
- President appoints seasoned officials to key economic posts
- Ex-World Bank Group director needs to tackle runaway inflation
A Bank of Zambia headquarters in Lusaka, Zambia.
Photographer: Waldo Swiegers/Bloomberg
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Zambian President Hakainde Hichilema named Denny Kalyalya as central bank governor, returning the highly-regarded economist to the job 13 months after his shock dismissal hit the nation’s currency and dollar bonds.
Kalyalya’s appointment is effective immediately and subject to lawmakers’ approval, the presidency said in an emailed statement Monday. His placement follows Hichilema’s selection of other seasoned officials to fill key economic posts, including that of Situmbeko Musokotwane as finance minister and Felix Nkulukusa as treasury secretary.