Tourist arrivals in Zimbabwe will end the year at a record 2.7 million, after a boom in the traditionally slow first half and increased traffic via the new Victoria Falls Airport gave leading operators their “best year ever”.
Arrivals in...
The International Monetary Fund’s Africa head says talks are ongoing with Zimbabwe on technical support for its reform plan but no new financial support is available until the country clears its arrears.
At a press briefing in South Africa on...
Finance Minister Mthuli Ncube’s recovery plan represents “comprehensive stabilization and reform efforts”, says the International Monetary Fund (IMF), but Zimbabwe still needs to clear arrears to lenders before it can access any new credit.
Zimbabwe and the IMF have also...
The production of gold, Zimbabwe’s top export, collapsed 59% percent September and November, mirroring a foreign currency crisis that has hit the country’s major mines and could deter new investment into the industry.
With cumulative output just shy of 32...
President Emmerson Mnangagwa and his two VPs earn a monthly salary of an average $17,500 each.
According to the “Blue Book”, the Government document which details its expenditure and debts, a total of $630,000 is allocated in the coming year...
It is too early to get rid of the 1:1 currency peg, as doing so in the current environment may bring “irreparable damage” to the economy, according to analysts at Zimnat Asset Management.
They however warn that Finance Minister Mthuli...
Zimbabwe recorded a primary surplus of $29 million in October, breaking a streak of huge deficits for much of the year, Finance Minister Mthuli Ncube said on Wednesday.
The budget deficit is forecast to close the year at $2.8 billion,...
In September, while meeting fund managers in New York, Finance Minister Mthuli said what the economy needed was a “big bang”, a shock to the system. A week later, he brought that big bang; on the advice of banks...
Finance Minister Mthuli Ncube’s 2019 budget statement promised ‘Austerity for Prosperity’, but by the time he finished delivering it, it was clear that government remains half-hearted about cutting spending, despite a symbolic 5% pay cut for the president and...
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...
