Reserve Bank of Zimbabwe governor John Mangudya on Wednesday effectively redenominated your RTGS balances, as well as bond notes and coins into a currency known as RTGS dollars. He also ended the contentious 1:1 peg against the...
Devaluation of the local bond-note is said to be one of the considerations at central bank ahead of Wednesday’s monetary policy statement. But that is just one piece of a complex puzzle for Reserve Bank of Zimbabwe...
By Godfrey Marawanyika
Zimbabwe’s central bank is considering devaluing its quasi-currency as part of a raft of reforms to the nation’s foreign-exchange system, according to a central bank official.
Depreciating...
Zimbabwe’s economy will grow by 4.2% in 2019 and 4.4% in 2020, the African Development Bank forecasts, but the country must liberalise the exchange rate and tame deficits if it is see “meaningful” recovery.
The amount of foreign currency held by the banking sector jumped 38% between September and November 2018, reaching near two-year highs following a central bank directive to separate forex accounts from bond note and electronic deposits, official...
Total payments in the economy declined 10% in November 2018, as the effects of an electronic payment tax introduced the previous month started to hit spending, central bank data has shown.
Government raised $170...
It's a paradox that reflects how complex Zimbabwe's problems are; the country is desperate for foreign currency, but it cannot access the foreign currency that it needs, because it has no foreign currency.
In his Transitional Stabilisation Policy released last October, Finance Minister Mthuli Ncube announced the sale, liquidation or partial privatisation of parastatals. In this article, he presents his views on why state enterprise reform is urgent, and what he is doing about it.
Public sector unions gave Zimbabwe’s government up to Wednesday to make a new salary offer or face a strike after wage negotiations reached a deadlock, raising the prospect of more unrest following this month’s violent protests.
By Prof. Tony Hawkins
It is too early to assess the economic impact of this month’s highly-effective shutdown and the government’s heavy-handed response.
Thus far, the main damage has...
