News / National
RBZ bond wipes $1bn from market
29 Jun 2018 at 08:03hrs | Views
The Reserve Bank of Zimbabwe (RBZ) says it has raised over $1 billion through the issuance of savings bonds to mop up excess liquidity from the market and fund Government expenditure.
Last September, the central bank issued the bonds to individual and institutional investors.
The debt securities, which had a seven percent annual return, were meant to raise money to fund Government business.
In an interview this week, RBZ governor Dr John Mangudya told the Business Weekly, that demand for the paper was high.
Last September, the central bank issued the bonds to individual and institutional investors.
The debt securities, which had a seven percent annual return, were meant to raise money to fund Government business.
In an interview this week, RBZ governor Dr John Mangudya told the Business Weekly, that demand for the paper was high.
Source - Business Weekly
