By Matt E.T Matigari, HARARE, October 19 (The Source) – Zimbabwe’s foreign exchange situation is getting worse in spite of extensive touting of a ‘nostro-stabilisation’ loan the Reserve Bank of Zimbabwe says it got from Afreximbank. How do we know this? Watch the indicators from… Read More
HARARE, October 18 (The Source) – The value of transactions processed through the National Payment System (NPS) in the first week of October declined by 14 percent from $2,3 billion in the previous week to $1,9 billion due to a decline in Real Time Gross… Read More
HARARE, October 4 (The Source) – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya on Wednesday told a meeting of business leaders that the country was generating sufficient foreign currency but was suffering from lack of confidence in the financial system. Mangudya said Zimbabwe… Read More
HARARE, September 14 (The Source) – The central bank is set to meet bankers over foreign currency allocations following claims by business that banks are not prioritising the productive sector. In the wake of a deepening foreign exchange shortage that has seen Zimbabwe accumulate… Read More
HARARE, September 6 (The Source) – Zimbabwe’s foreign currency receipts rose 6,6 percent to $3,2 billion in the eight months to August from $3 billion in the comparable period last year, buoyed by mineral earnings, according to central bank governor, John Mangudya.
HARARE, September 5 (The Source) – Zimbabwe’s retailers have warned of possible food shortages as it becomes increasingly difficult for the country to process foreign payments to raw material suppliers outside country, with the backlog estimated at $180 million.
HARARE, August 21 (The Source) – The central bank’s latest bid to deal with foreign currency shortages will hit hard Zimbabwe’s verdant mining sector, and has been described as ‘catastrophic’ by some industry players. “With immediate effect, 80 percent of all foreign exchange receipts from… Read More
HARARE, August 3 (The Source) – Presenting his latest monetary policy statement on Wednesday, central bank governor John Mangudya looked like a runner who had just done the Gutu Half Marathon in mid-October.
HARARE, August 3 (The Source) – The Reserve Bank of Zimbabwe (RBZ) has increased the Diaspora Remittance Incentive Scheme (DRIS) from 3 percent to 10 percent, in a bid to increase inflows.
HARARE, August 2 (The Source) – Zimbabwe’s central bank says it will print additional bond notes worth $300 million in an effort to ease biting cash shortages, stoking fears that the country could return to the era of money printing and hyperinflation.
HARARE, July 24 (The Source) – Government borrowing from the local market jumped nearly 40 percent in May this year, driving an increase in domestic credit by 21,1 percent on an annual basis to $8,45 billion from $6,98 billion, latest data from the central bank… Read More
By Kuda Chideme, HARARE, July 14 (The Source) – Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya on Wednesday told a business symposium organized by the University of Zimbabwe that the country had received $2,8 billion in foreign currency receipts between January and June. By… Read More
By Kuda Chideme, HARARE, July 12 (The Source) – Zimbabwe’s inflation rate is too low, and needs to increase to stimulate economic growth, central bank governor John Mangudya has said.
HARARE, July 11 (The Source) – The Reserve Bank of Zimbabwe (RBZ) on Tuesday announced a major reduction in registration fees for setting up bureaux de change in the country, a move it says would eliminate illegal money changers.
HARARE, June 19 (The Source) – Zimbabwe’s annual broad money supply grew by 22,67 percent in April to $6,2 billion, largely driven by an increase of 31,22 percent in transferable deposits, latest data from the central bank has shown. However, negotiable certificates of deposits (NCD)… Read More