On Monday, Reserve
Bank of Zimbabwe governor John Mangudya appeared before Parliament’s Public
Accounts Committee, where he testified that his strategy to assume over $1
billion in bad bank loans had saved the economy from collapse.
In...
Parliament’s Public Accounts Committee (PAC) has ordered the Reserve Bank of Zimbabwe (RBZ) to submit a list of all 1,016 beneficiaries of the central bank’s non-performing loan bail-out scheme within the next two weeks.
Government has reported a massive $732 million budget surplus for December, as collections reached record highs, but below normal expenditure for the month cast doubts on the figures.
A Treasury update on policy reforms...
Zimbabwe and Botswana signed a billion Pula credit facility on Thursday, double what had initially been discussed, the leaders of the two countries announced.
The two countries had previously held discussions on a...
Tobacco farmers will now retain 50% of their earnings, up from the 30% proposed in the February 20 monetary policy statement, after growers successfully lobbied for an increase.
Last season, tobacco growers got paid...
With foreign currency on the new interbank market still a
trickle, the Reserve Bank of Zimbabwe is pushing companies in the productive
sectors to the front of the queue of forex buyers.
A directive issued...
Zimbabwe’s new currency will be backed up with fiscal discipline, Finance Minister Mthuli Ncube says, adding that the government would allow the RTGS dollar to fluctuate but would manage excessive volatility.
Ncube spoke as...
Business people and economists welcomed last week’s decision to abandon an unrealistic dollar peg for the country’s surrogate bond notes and electronic dollars, which were merged into a new currency called the Real Time Gross Settlement (RTGS)...
You can always trust the Zimbabwean commentariat to be quick
with reactions and commentary after every major event.
The monetary policy statement, released on Wednesday
afternoon by RBZ governor John Mangudya, came after weeks of...
Three years after introducing the bond note at a contested
par rate of 1:1 with the US dollar, Reserve Bank of Zimbabwe has finally abandoned
the peg and effectively floated the exchange rate.
Central bank...
