The Reserve Bank of Zimbabwe (RBZ) has processed claims for foreign currency-denominated legacy debt worth US$1.2bn, rejecting dodgy requests worth US$861 million, governor John Mangudya revealed on Monday.
After ending dollarisation last year,...
Zimbabwe is well on course to complete de-dollarisation, with the process expected to take five years, central bank governor John Mangudya said on Monday.
The country officially ended a decade of dollarisation last June,...
Drought, Cyclone Idai and “policy missteps” drove Zimbabwe’s economic contraction in 2019, the first in over a decade, the International Monetary Fund (IMF) says.
The IMF projected the economy to slump by 7.1% in...
Zimbabwe’s economy shrunk by 7.5% in 2019 but could rebound by 2.7% in 2020, according to a new World Bank report.
This was the first time that Zimbabwe suffered a GDP contraction since 2008,...
The World Food Programme (WFP) says it is rapidly expanding an already sizeable emergency operation in Zimbabwe where drought, flooding and economic meltdown have plunged 7.7 million people – half the population – into severe hunger.
Edgars says it is opening new stores despite falling consumer spending that resulted in a 23% drop in volumes in the months to September.
Unit sales at Edgars stores were down 25% compared to...
Government last week published a Bill seeking Parliament’s condonation for four years’ worth of unauthorised expenditure amounting to US$9,678,603,044.
Here, we explain what the ‘Financial Amendments Bill of 2019’ means.
Why...
The RBZ’s monetary policy committee, which sat on Friday, 15 November 2019 resolved to cut the Bank’s policy rate from 70% to 35% with effect from November 20, 2019, according to notes released by the central...
Finance Minister Mthuli Ncube has ended subsidies for maize and wheat, a move meant to cut costs, but set to further drive up the cost of staples for already pressed Zimbabwean consumers.
Ncube...
Finance Minister Mthuli Ncube has tempered his economic growth
expectations for 2020, forecasting the economy to recover 3%, lower than his
initial projection of 4.6%.
The economy is still expected to shrink by 6.5% this...
