Government must urgently end its exchange rate fiction and implement currency reforms to avert imminent economic implosion, leading asset manager Imara has said in a searing note to investors. Imara says President Emmerson Mnangagwa’s...
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...
EACH time Tendai Biti gets up to address an MDC Alliance rally, he is greeted with ‘USA! USA!’ chants. This adulation is not for America, but its coveted currency. Biti, Zimbabwe’s finance minister between February 2009 and June 2013,...
ZIMBABWE’S economy is, once again, in turmoil. Unrestrained government expenditure has rekindled inflationary flames, the country’s huge import bill continues to exert pressure on limited foreign currency earnings and the dollarisation project has long unravelled. A raft of government subsidies...
IN his first address as president last November, Emmerson Mnangagwa promised to focus on economic recovery and to “shed misbehaviours and acts of indiscipline which have characterised the past.” But, faced with a tough battle to secure a fresh mandate...
AFTER his surprise appointment last month, Finance Minister Mthuli Ncube arrived at a Treasury which had just put out a grim first half report showing a $1.34 billion budget deficit, domestic debt approaching $10 billion, an unrelenting Treasury Bill...
The MDC's bold plan to join Southern African customs and currency blocs has implications beyond Zimbabwe's borders, write Catherine Grant Makokera and Brian Mureverwi IF it came off, a proposal by Zimbabwe’s official opposition to join the oldest customs union...
By Neville Mandimika UNDERSTANDING market nuances is everything in Africa and Zimbabwe’s newest currency — the bollar — is the epitome of idiosyncrasy. The bollar is the street name given to bond notes, the non-convertible currency introduced in November 2016, of...
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