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A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 15 hrs ago | 1823 | by newZwire with The Source
Illegal forex traders desert their usual selling points
The hordes of illegal foreign currency traders who had made the streets of Harare their home are increasingly becoming a rare sight, as President Emmerson Mnangagwa's abatement measures take effect....Published: 17 hrs ago | 3673 | by Staff reporter
Mnangagwa's govt and Zimbabwe banks should carry own cross
If there is anything that we could learn from the global economic crisis of 2008, it is that excessive risk-taking, manipulation and poor hedging often result in huge enterprise and economic losses. T...Published: 21 hrs ago | 2006 | by Equity Axis
'I have Thatcher's iron lady resolve,' says ED - rigged election for iron grip on power, must prise free
"WHEN Margaret Thatcher was elected UK prime minister in 1979, she recognised that piecemeal change would not be sufficient to tackle the problems of labour unrest, rampant inflation and economic stag...Published: 21 hrs ago | 1269 | by Patrick Guramatunhu
Mnangagwa says accept 'painful' economic reforms
PRESIDENT Mnangagwa says Zimbabwe will undergo a "painful" reform process to achieve transformation and modernisation of the economy. Government has already begun implementing some austerity m...Published: 14 Nov 2018 at 05:45hrs | 657 | by Staff reporter
We have no choice, but to embark on painful reforms
When Margaret Thatcher was elected UK prime minister in 1979, she recognised that piecemeal change would not be sufficient to tackle the problems of labour unrest, rampant inflation and economic stagn...Published: 14 Nov 2018 at 05:39hrs | 374 | by E.D. Mnangagwa President
No going back on austerity measures, says Mnangagwa
President Mnangagwa says Zimbabwe will undergo a "painful" reform process to achieve transformation and modernisation of the economy. Government is already implementing austerity measures and ...Published: 14 Nov 2018 at 05:33hrs | 469 | by Staff reporter
Zimbabwe inflation hits the 20.8% mark, RBZ targets 7%
Zimbabwe's annual inflation rose sharply to a record 20.8 percent in October after it gained 15.46 percentage points from the September rate of 5.39 percent. The Consumer Price Index (CPI) for...Published: 13 Nov 2018 at 16:03hrs | 1471 | by Staff reporter
Mnangagwa likens himself to Margaret Thatcher
President Emmerson Mnangagwa has equated himself and his rise to power as equivalent to that of the late British Premier Margaret Thatcher who was popularly know as The Iron Lady. Writing...Published: 13 Nov 2018 at 15:48hrs | 2692 | by Mandla Ndlovu
Settling land compensation issue vital for Zimbabwe's economy
IN his inaugural address, the new President of Zimbabwe, Emmerson Mnangagwa, confirmed that land reform was both historically necessary and irreversible.He also made a commitment to compensate...Published: 13 Nov 2018 at 06:09hrs | 291 | by Ian Scoones
Plea to exempt cotton farmers from 2% tax
THE Cotton Company of Zimbabwe (Cottco) has proposed that cotton farmers be exempted from the 2% tax on electronic transactions as well as from the 10% withholding tax to help them build capacity....Published: 13 Nov 2018 at 06:01hrs | 150 | by staff reporter
Mthuli Ncube trims monthly fiscal budget deficit
TREASURY has scored excellent progress in trimming monthly fiscal budget deficit as part of Government's economic reform agenda with September 2018 deficit reduced to $19 million against a target of $...Published: 13 Nov 2018 at 05:50hrs | 797 | by Staff reporter
1 year after Mugabe fall, Zimbabwe asks 'What has changed?'
One year ago the unthinkable happened in Zimbabwe: Robert Mugabe fell from power.Tanks rolled in the streets of the capital, Harare, on November 14, 2017, and the military put Mugabe under hou...Published: 12 Nov 2018 at 14:25hrs | 1927 | by AP
Money is the root of all evil
We all use money every day and yet few of us really understand what these bits of paper or cotton or simply figures in a ledger really mean. But we know the stuff is important.In economic term...Published: 12 Nov 2018 at 05:38hrs | 989 | by Eddie Cross
Inflation likely to stabilise, says Mangudya
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says inflation is likely to stabilise around 7% in the medium term.Giving his presentation during the pre-budget seminar in Bulawayo last ...Published: 12 Nov 2018 at 05:33hrs | 824 | by Staff reporter
New law on illegal currency trading welcome
WE welcome President Emmerson Mnangagwa's decision to use temporary powers for a new law that will see illegal currency traders being sentenced to up to 10 years in jail, while ill-gotten wealth will ...Published: 12 Nov 2018 at 05:23hrs | 2295 | by Staff reporter
Chamisa says there is no agreement on national issues with Mnangagwa
MDC leader Nelson Chamisa believes that the country's economic situation will remain dire until a solution is found to the legitimacy question that he is currently pursuing. In this wide-rangi...Published: 11 Nov 2018 at 16:31hrs | 1439 | by Staff reporter
All eyes on Mthuli Ncube
FINANCE and Economic Development minister Mthuli Ncube's maiden national budget should target the revival of the productive sectors of the economy to set the tone for revival, business has advised....Published: 11 Nov 2018 at 12:24hrs | 1235 | by Staff reporter
Mthuli Ncube tax evokes memories of 2008 crisis in Zimbabwe
When Zimbabwean President Emmerson Mnangagwa appointed a comparatively youthful, Cambridge-trained economist as finance minister in September, he gave him an almost impossible task: repay billions of ...Published: 11 Nov 2018 at 10:25hrs | 1121 | by Bloomberg
Is Zanu PF acting and delivering ???
The victory of ZANU PF is not only to benefit ZANU PF but it benefits the nation. ZANU PF is expected to be coming up with solutions and stop the rot in our economy. The government which was for...Published: 10 Nov 2018 at 11:19hrs | 685 | by Dr Masimba Mavaza
Budget should address economic fundamentals, Mthuli Ncube urged
REPRESENTATIVES from various sectors of business have challenged Finance minister Mthuli Ncube to address critical issues such as the budget deficit and currency reforms when he presents the 2019 Nati...Published: 10 Nov 2018 at 11:03hrs | 146 | by Staff reporter
Excellent progress on Zimbabwe fiscal budget deficit reduction.
In the month of September 2018, the fiscal budget was balanced and the deficit was almost zeroProfessor Mthuli Ncube, Zimbabwe Minister of Finance said that there has been "Excellent progress ...Published: 09 Nov 2018 at 21:46hrs | 3690 | by Ndou Paul
Reality check for Mthuli Ncube
Under-pressure Finance minister Mthuli Ncube faces a tough task in balancing policy measures that stabilise the economy and populist demands from the ruling party when he presents his much-awaited N...Published: 09 Nov 2018 at 17:18hrs | 4301 | by Staff reporter
Chinamasa refuses to meet World Banks officials
THE World Bank is making efforts to meet former Finance and Economic Development Minister and ZANU-PF secretary for finance Patrick Chinamasa to discuss "critical economic issues" according to a repor...Published: 09 Nov 2018 at 16:57hrs | 5237 | by Staff reporter
RBZ boss refuses to scrap bond notes
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday defended the use of bond notes saying the real cause of problems facing the economy was not the surrogate currency but ballooning ele...Published: 09 Nov 2018 at 05:02hrs | 5744 | by Staff reporter
Banks fear hyperinflation return in plea for Zimbabwe reforms
Zimbabwean banks urged the government to introduce wide-ranging reforms amid signs the country is facing an economic crisis reminiscent of a hyper-inflationary spiral a decade ago.Finance Mini...Published: 08 Nov 2018 at 19:13hrs | 4039 | by Bloomberg
Forex shortages hinder start-up
In 2006, Bike and Boat Bar (BBB), a Bulawayo company, started manufacturing motor cycles, a first for the country and the region. Soon after, however, the economy tanked as hyperinflation rendered the...Published: 08 Nov 2018 at 05:37hrs | 765 | by Staff reporter
IMF team arrives in Zimbabwe for consultations
An International Monetary Fund (IMF) team arrived in the country yesterday for the annual Article IV consultations - with discussions likely to focus on the country's monetary and fiscal policies, sta...Published: 08 Nov 2018 at 05:27hrs | 872 | by Staff reporter
Mnangagwa's pronouncement on Mthuli Tax a welcome relief
President Emmerson Mnangagwa's recent announcement that he will review the two cents per dollar transaction tax is a welcome relief to long-suffering Zimbabweans.The new tax regime introduced ...Published: 06 Nov 2018 at 11:49hrs | 12534 | by Staff reporter
Sex vendors reject bond note, demand forex
In reaction to the biting economic crises characterised by an inflationary bond note, sex workers in the town have now resorted to foreign currency and basic commodities as forms of payment for their ...Published: 03 Nov 2018 at 16:08hrs | 3429 | by Staff reporter
Mnangagwa privately admits economic woes
PRESIDENT Emmerson Mnangagwa this week acknowledged to business leaders that the country's economy was in distress and in dire need of immediate rescue, amid rising inflationary pressures and currency...Published: 03 Nov 2018 at 12:59hrs | 3992 | by Staff reporter
The ball is now in Mnangagwa's court
The banking sector - which plays a vital role in financial intermediation as well as other critical functions which collectively are the lifeblood of the economy - should be commended for presenting a...Published: 03 Nov 2018 at 12:57hrs | 2054 | by Editorial - The Independent
'Women reeling from impact of Mthuli Ncube tax'
Government's new monetary policy is adversely affecting the quality of life of women, the Women's Coalition of Zimbabwe (WCoZ) has said.WCoZ said the new tax on electronic payments has overbur...Published: 03 Nov 2018 at 10:07hrs | 1590 | by Staff reporter
You shall not crucify Zimbabwe on a cross of bond notes
RECENT dramatic events arising from allegations that certain officials of the Reserve Bank of Zimbabwe (RBZ) have been involved in currency malfeasance using the bond note as their lever to execute tr...Published: 03 Nov 2018 at 08:08hrs | 3288 | by Colls Ndlovu
Zimbabwe gets $1 billion bailout?
The African Export Import Bank (Afreximbank) has extended a $1 billion loan to Zimbabwe to guarantee the convertibility value of Real Time Gross Settlement (RTGS) balances into United States dollars a...Published: 02 Nov 2018 at 15:08hrs | 13653 | by Staff reporter
Shun corruption in awarding tenders: Mnangagwa
PRESIDENT Emmerson Mnangagwa has urged procurement and supply practitioners to discard the habit of awarding themselves tenders without following proper procedures.Officiating at the Chartered...Published: 02 Nov 2018 at 06:07hrs | 222 | by Staff reporter
Mnangagwa must deal with economy to avert collapse
BAKERS will today increase the price of bread to $1,40 following a government commitment to avail 80% of their foreign currency requirements.This came hardly a week after government last weeke...Published: 02 Nov 2018 at 06:01hrs | 287 | by Editorial - newsday
Mnangagwa calls for culture of buying local
PRESIDENT Mnangagwa yesterday appealed to Zimbabweans to develop a culture of buying locally produced goods and services to promote domestic industry and economic transformation. Officiating a...Published: 02 Nov 2018 at 05:54hrs | 162 | by Staff reporter
Sugar smugglers hit the jackpot in Mozambique
Economic saboteurs are taking advantage of low sugar prices locally to smuggle hundreds of tonnes of sugar into Mozambique daily through illegal crossing points, raking in tens of thousands of dollars...Published: 02 Nov 2018 at 05:44hrs | 2076 | by Staff reporter
Bread price up to $1.40
The retail price of bread is with effect from this Friday expected to be increased to $1.40 per loaf from $1.10.The move comes on the backdrop of widespread consultations which have been done ...Published: 01 Nov 2018 at 15:47hrs | 1725 | by Staff reporter
MPs roast Mthuli Ncube over cars
FINANCE minister Mthuli Ncube was yesterday cornered by legislators who demanded that government immediately buys them vehicles which they are entitled to.Hurungwe East MP Ngoni Masenda (Zanu ...Published: 01 Nov 2018 at 05:48hrs | 2971 | by Staff reporter
Government urged to set up monetary policy body
ECONOMIST, Mr Eddie Cross, has urged Government to set up a professional monetary policy committee to advise the Reserve Bank of Zimbabwe (RBZ) and guard against financial leakages. The Centra...Published: 01 Nov 2018 at 05:32hrs | 369 | by Staff reporter
Zimbabwe staggers on
LAST Friday, Finance and Economic Development minister, Mthuli Ncube, tweeted that he would curb Zimbabwe's economic crisis by limiting "government expenditure, rationalise posts in the public service...Published: 31 Oct 2018 at 13:23hrs | 900 | by Pearl Matibe
Zimbabwe govt wage bill to hit $3,7bn after salary hikes
GOVERNMENT'S wage bill is seen growing by 16% this year to $3,7 billion, rising to $3,9 billion next year and pushing the budget deficit to nearly 14% of the gross domestic product (GDP), government p...Published: 31 Oct 2018 at 05:26hrs | 2018 | by Staff reporter
Zimbabwe official inflation misleading
Zimbabwe's official inflation is misleading and does not reflect the price increases of goods and services consumers are witnessing, a leading equities firm has said.The country's annual infla...Published: 30 Oct 2018 at 06:02hrs | 2312 | by Staff reporter
Mnangagwa cornered over deteriorating economy
PRESIDENT Emmerson Mnangagwa yesterday met captains of industry to tackle challenges in the economy, but the meeting failed to come up with solutions, according to people with knowledge of the meeting...Published: 30 Oct 2018 at 05:33hrs | 5651 | by Staff reporter
Mnangagwa to weed out ghost workers
PUBLIC Service Commission (PSC) secretary Jonathan Wutaunashe last week told Parliament that government did not factor in cost of living adjustments for civil servants in the 2019 proposed budget allo...Published: 29 Oct 2018 at 05:45hrs | 1910 | by Staff reporter
'Free float exchange system catastrophic for Zimbabwe'
ZIMBABWE risks plunging into rampaging price inflation if it liberalises foreign exchange controls, according to the proponents of a managed exchange rate system. But critics of the system argue that ...Published: 29 Oct 2018 at 05:27hrs | 1098 | by Staff reporter
Zimbabweans sleeping in food and petrol queues
Zimbabweans are sleeping in petrol queues and spending hours lining up for basic food, as the country suffers its worst economic crisis in a decade.Nearly a year after the downfall of dictator...Published: 28 Oct 2018 at 08:51hrs | 1040 | by abc.net.au/
Origins of the Zimbabwe crisis
This article was first published by hsf.org.za.Zimbabwe is experiencing a cumulative breakdown. Living standards, life expectancy and production have plummeted while political oppression h...Published: 27 Oct 2018 at 09:11hrs | 5760 | by Teddy Brett and Simon Winter
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