The Role of the Financial Sector in Zimbabwe, Central Banking and its Social and Economic Impacts’

of the impact of this policy on savings, investment and the growth of income (GDP) in the Ghanaian economy was undertaken by Gordon (2008) and positive impact of the financial sector on the economy. Previously, Ghana operated a tightly regulated financial system and the impacts of these policies on economic development were found to be dismal. The country turned to the International Monetary Fund (IMF) for assistance to reshape the macroeconomic structure, and one of the policy packages was to reform the economy’s financial system. Financial liberalization thereafter affected positively the interest rate, savings, investment and GDP in Ghana. Sri Lanka also went ahead with its financial