Zimbabwe’s economy could shrink by as much as 6.5% this year, worse than initially projected, due to a devastating drought as well as shortages of foreign currency, electricity and fuel, according to a Treasury document seen on...
Zimbabwe’s President Emmerson Mnangagwa on Tuesday pleaded for time and patience to bring the economy back from the “dead”, as his government faces blame for surging inflation evoking dark days under Robert Mugabe.
Hopes...
Zimbabwe and the International Monetary Fund (IMF) are currently undertaking a staff monitored programme (SMP) - an informal collaboration which does not entail financial support - as the southern African country implements economic reforms.
Old Mutual Zimbabwe has bought up land at Ngezi in anticipation of a mining boom in on the platinum belt, and is adding properties in Victoria Falls to build a new hotel.
The...
An IMF team is in Zimbabwe to begin the first review of the Staff Monitored Programme (SMP), as the Fund presses for quicker progress on market reforms.
Gene Leon, Division Chief of the IMF...
Finance Minister Mthuli Ncube has established a nine-member monetary policy committee (MPC), as part of measures to help bring credibility to policy as the economy pushes towards its own currency.
The MPC has been...
In 2009, Zimbabwe stopped showing annual inflation data after switching to the US dollar. Now, the country is doing this again, and this time it's because it has ditched the US currency.
Until...
Civil servants will go on strike unless government raises salaries to the equivalent of US$475 for the lowest paid worker, union leaders said on Tuesday.
Zimbabwean workers’ incomes have been eroded by resurgent inflation,...
Zimbabwe owes US$196 million to the world’s airlines in
unremitted ticket sales, and the International Air Transport Association (IATA)
has warned President Emmerson Mnangagwa that the debt could force operators to reduce
flights into the country.
Public sector workers have rejected a government offer of ZWL$180 million in added pay for the July-December period as inadequate in the face of soaring inflation, a union official said.
Zimbabweans are angry as...
