The price hikes in early October drove annual inflation to 20.85%, the highest recorded since Zimbabwe adopted the US dollar in 2009, according to new official data just released. The shock new numbers add fresh pressure on Finance Minister Mthuli...
EACH time Tendai Biti gets up to address an MDC Alliance rally, he is greeted with ‘USA! USA!’ chants. This adulation is not for America, but its coveted currency. Biti, Zimbabwe’s finance minister between February 2009 and June 2013,...
Ahead of Finance Minister Mthuli Ncube’s 2019 national budget presentation on November 22, the country’s largest business groups have handed him proposals that would have a far reaching impact on the economy. The Confederation of Zimbabwe Industries (CZI) wants an...
OK Zimbabwe, the country’s largest supermarket group, believes the market turmoil precipitated by recent government policies is temporary. The chain is one of the biggest victims of the upheaval caused by the authorities’ October 1 decision to separate foreign currency...
Delta Corporation says it owes foreign suppliers US$41 million, as surging demand continues to exert pressure on its forex needs. Delta’s products, especially carbonated soft drinks, have been in short supply and the situation worsened at the beginning of October...
THE 585 kilometre Harare-Beitbridge highway, the country’s busiest and most economically strategic, was completed in 1960, with a 20-year lifespan. By the time Jonah Moyo and Devera Ngwena popularised ‘Masvingo neCarpet’, supposedly extolling the highway through the 1986 Volume 10...
Reserve Bank of Zimbabwe governor John Mangudya will have his term extended when his current term ends next year, presidential spokesman George Charamba has said. Mangudya took office on May 1, 2014, replacing Gideon Gono, and his current term ends...
ZIMBABWE’S economy is, once again, in turmoil. Unrestrained government expenditure has rekindled inflationary flames, the country’s huge import bill continues to exert pressure on limited foreign currency earnings and the dollarisation project has long unravelled. A raft of government subsidies...
Zimbabwe’s budget deficit will more than double to 11.1 percent of gross domestic product this year from an initial forecast of 5 percent due to runaway government spending, a senior treasury official said on Monday. President Emmerson Mnangagwa’s government cranked...
President Emmerson Mnangagwa has told business leaders to expect more pain as his Government plans “structural reforms”, insisting there is no other way to save the economy. At a meeting with business leaders early Monday, where executives told him that...
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