Zoja Razmusa graduated from the Vitebsk Technological Institute of Light Industry (appointment of the Ministry of Education of the LSSR) as textile engineer and economist. She holds Doctor's Degree in Economics from the Institute of Economics of the Academy of Sciences of the Latvian SSR.
Zoja Razmusa started her career at Latvijas Banka in 1993 as Deputy Head of the Monetary Policy Department and, together with her colleagues, developed and advanced the functions of the Department. Zoja Razmusa represented Latvijas Banka in the Working Group on Public Finance of the Monetary Policy Committee of the European System of Central Banks and took part in the activities of the Banking Supervision Committee of the European System of Central Banks. She is the author of a number of Latvijas Banka publications. Before her employment at Latvijas Banka, she worked at the Institute of Economics of the Academy of Sciences of the Latvian SSR as a senior researcher and Head of Division (1987–1993) and Riga Technical University as a senior lecturer (1980–1983).
On 17 February 2011, the Saeima of the Republic of Latvia approved Zoja Razmusa as Member of the Council of Latvijas Banka.
On 13 March 2014, the Saeima of the Republic of Latvia approved Zoja Razmusa as Deputy Governor of Latvijas Banka.