THE Bank of Zambia says the unexpectedly long delays in concluding Zambia’s debt restructuring process have heavily influenced continuous pressure in the foreign exchange market. According to the Bank of Zambia daily market rates, the Kwacha was buying at 20.9563 against the US dollar and selling at 21.0038 as at 09:30 hours, Thursday. In an interview, Thursday, BOZ Assistant Director Communications Besnat Mwanza said the delays had impacted the participation of foreign investors in the Government securities market and created uncertainty around what will actually be agreed to in the talks. “The change in the statutory reserve ratio works by influencing the availability of free liquidity with which banks can generate credit to the economy. Lower ratios imply that banks...