During a December 20, 2018 appearance before a parliamentary committee, central bank governor John Mangudya was asked if it was sustainable for government to continue subsidising fuel. Why not let all fuel retailers sell in forex?, one...
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...
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...
Business people and economists welcomed last week’s decision to abandon an unrealistic dollar peg for the country’s surrogate bond notes and electronic dollars, which were merged into a new currency called the Real Time Gross Settlement (RTGS)...
Zimbabwe’s new currency will be backed up with fiscal discipline, Finance Minister Mthuli Ncube says, adding that the government would allow the RTGS dollar to fluctuate but would manage excessive volatility. Ncube spoke as...
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...
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 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,...
Finance Minister Mthuli Ncube says government is staying out of the newly launched interbank market and will only intervene to deal with any volatility.  After a second day of foreign currency trading on Tuesday,...
Following the end of dollarisation last month and the inevitable confusion that ensued, the Reserve Bank of Zimbabwe (RBZ) has today, July 24, issued its second exchange control circular to clarify certain aspects of the new regime,...
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