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Zimbabwe's gold loses glitter
Zimbabwe's gold export receipts plummeted 46% to record US$53.1m in January 2021 from US$98.1m during the same month last year due to delays in payments and heavy rains, the Reserve Bank (RBZ) has sai...Published: 05 Mar 2021 at 17:44hrs | 700 | by Staff reporter
Ex-RBZ advisors under fire
THE Zimbabwe National Chamber of Commerce (ZNCC) has slammed the Reserve Bank of Zimbabwe (RBZ)'s "underachieving" outgoing monetary policy committee (MPC) saying it lacked depth and expertise to driv...Published: 05 Mar 2021 at 06:57hrs | 1732 | by Staff reporter
Foreign direct investment dries up
FOREIGN investment inflows to Zimbabwe last year fell by 23.7% to US$40.06 million compared to the same period in the previous year, with analysts attributing the decline to the outbreak of Covid-19 p...Published: 28 Feb 2021 at 15:33hrs | 1076 | by Staff reporter
Zimbabwe govt treasury surplus exceeds $6bn
Public finances have been in perfect health for a good period now, amid revelations that Treasury has maintained surpluses in excess of $6 billion on its accounts at the Reserve Bank of Zimbabwe (RBZ)...Published: 28 Feb 2021 at 10:30hrs | 666 | by Staff reporter
RBZ backtracks on farmers' forex retention thresholds
THE Reserve Bank of Zimbabwe (RBZ) has been forced to raise foreign currency retention thresholds for tobacco producers by 10% following pressure from farmers.RBZ also scrapped the compulsory ...Published: 28 Feb 2021 at 08:51hrs | 760 | by Staff reporter
Plans to repeal crippling taxation on cards
THE Ministry of Mines and Mining Development is currently engaged in major discussions with fiscal and monetary authorities to address the issues of the punitive tax regime and surrender thresholds th...Published: 26 Feb 2021 at 06:55hrs | 1427 | by Staff reporter
RBZ chief warms up to fintech
THE Reserve Bank of Zimbabwe (RBZ) says it will create a financial technology (fintech) regulatory sandbox that is likely to transform the banking sector.According to Investopedia, fintech is ...Published: 26 Feb 2021 at 06:48hrs | 785 | by Staff reporter
Family monthly basket shoots to $25 935
THE monthly cost of living for an ordinary family of five rose again this February to record $25 935, the Zimbabwe National Statistics Agency (ZIMSTAT) has reported.The agency Thursday reporte...Published: 26 Feb 2021 at 06:43hrs | 808 | by Staff reporter
Zimbabwe's exchange rates band to narrow
The gap between the official and parallel market exchange rates is expected to narrow further from the current 20% by the end of the year owing to the containment of reserve money, good agriculture se...Published: 25 Feb 2021 at 16:19hrs | 1646 | by Staff reporter
RBZ warns against rejecting $5 notes
THE Reserve Bank of Zimbabwe has assured the transacting public that the $5 note was still legal tender, and warned businesses against rejecting the currency.In a statement on Tuesday, the cen...Published: 24 Feb 2021 at 21:52hrs | 812 | by Staff reporter
RBZ resolves auction payment glitches
The Reserve Bank of Zimbabwe (RBZ) says it has resolved the delayed settlement of foreign currency auction payments that occurred at the end of last year, as the authorities continue to refine the sys...Published: 24 Feb 2021 at 05:44hrs | 421 | by Staff reporter
Zimbabwean banks strike forex auction settlement deal
ZIMBABWE's banking system has agreed to settle funds allocated at the foreign currency auction system within two weeks, central bank governor John Mangudya has said.Introduced in June 2020 to ...Published: 21 Feb 2021 at 07:06hrs | 1254 | by Staff reporter
'Inflation will drop to 10% by December 2021' - not as long as Zimbabwe remains a Banana Republic
"The Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability," reported Bu...Published: 20 Feb 2021 at 08:43hrs | 258 | by Nomusa Garikai
Zimbabwean expats keep country afloat, remits $1 billion
Diaspora remittances to Zimbabwe jumped a record 58 percent from US$635.7 million to US$1 billion in 2020, the central bank said on Thursday, highlighting the key role played by expatriates in keeping...Published: 19 Feb 2021 at 07:24hrs | 960 | by Staff reporter
RBZ projects inflation fall
THE Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability.Zimbab...Published: 19 Feb 2021 at 07:16hrs | 382 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 683 | by Staff reporter
Mr Cross: Silence cannot be misquoted
In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)'s monetary...Published: 25 Jan 2021 at 08:28hrs | 3885 | by Dr Tim Rainhard
Zim Parliament barking up wrong tree on auction system
An all too familiar joke that has been doing the rounds ever since Zimbabwe's economy hit turbulence is that every citizen of this country has become an economist of sorts. This places the burden of f...Published: 30 Sep 2020 at 10:47hrs | 1748 | by Dr Tim Rainhard
Zimbabwe set to lose $1 billion in potential revenue
ZIMBABWE'S cash-strapped government is set to forgo over $1 billion in revenues from the intermediated money transfer tax (IMTT) as a result of policy inconsistencies, analysts have said.The g...Published: 30 Aug 2020 at 10:58hrs | 1388 | by Staff reporter
'Zimbabwe now a trillion dollar economy'
The Mid Term Monetary Policy Statement from the Reserve Bank is well worth a read. This is the first overall review following the formation of the Monetary Policy Committee in August 2019. I was privi...Published: 23 Aug 2020 at 20:33hrs | 10225 | by Eddie Cross
More USD for Zimbabwe
ZIMBABWEANS living and working abroad sent more than US$374 million back home during the first six months of the year, which represents a 26 percent rise from the US$298 million that was recorded in t...Published: 23 Aug 2020 at 11:11hrs | 1169 | by Staff reporter
Mobile operators outed for printing money
SOME mobile money operators have been printing money through creating overdrafts and fictitious credit, most of which was channelled to buy foreign currency on the parallel market a practice that has ...Published: 23 Aug 2020 at 11:09hrs | 600 | by Staff reporter
RBZ 'bans' bulk payments of salaries, wages
THE Reserve Bank of Zimbabwe (RBZ) has restricted the payment of salaries and wages through bulk payments and mobile money agents as part of measures to curb illicit transactions.The move by t...Published: 22 Aug 2020 at 08:34hrs | 8413 | by Staff reporter
RBZ directs sale of 20% shop forex
Twenty percent of all new foreign currency taken by Zimbabwean businesses from local customers must now be liquidated at the official exchange rate, when deposited in a domestic foreign currency bank ...Published: 22 Aug 2020 at 08:25hrs | 1654 | by Staff reporter
Mobile money agents abolished in Zimbabwe
GOVERNMENT has with immediate effect abolished mobile money wallet agents as they are no longer serving any legitimate purpose and further tightened regulations to tackle illegal foreign currency deal...Published: 21 Aug 2020 at 19:31hrs | 1854 | by Staff reporter
Zimbabwe reserve money supply drops
ZIMBABWE'S reserve money supply growth decreased to $16,66 billion in the week ended July 31 from $17,01 billion the previous week as authorities implement tight policies to control inflation. ...Published: 12 Aug 2020 at 06:46hrs | 933 | by Staff reporter
How RBZ, govt sabotaged plans to restore Zimdollar
UNITED States $75 allowances and allowing retailers to trade in forex show a government shifting into reverse gear, possibly ditching two years' worth of policy steps to end dollarisation.The ...Published: 26 Jun 2020 at 07:26hrs | 6376 | by Staff reporter
Fixed Exchange Rate: More harm than good
The Reserve Bank of Zimbabwe suspended the new managed floating exchange rate and introduced the fixed exchange rate of 1 US Dollar to 25 Zimbabwean Dollars on the 26th of March 2020. Two weeks earlie...Published: 25 May 2020 at 13:24hrs | 1765 | by Victor Bhoroma
High Court judge reverses RBZ currency conversion
The High Court has declared unconstitutional a Reserve Bank of Zimbabwe exchange control directive converting sums in accounts originally designated in US dollars into accounts designated in Zimbabwe ...Published: 15 May 2020 at 06:58hrs | 1597 | by Staff reporter
RBZ reviews forex priority list
The Reserve Bank of Zimbabwe (RBZ) says financial institutions should prioritise foreign currency allocation to productive sectors of the economy as a key response to the coronavirus pandemic. ...Published: 30 Apr 2020 at 07:03hrs | 651 | by Staff reporter
RBZ completes validation of blocked funds
THE Reserve Bank of Zimbabwe (RBZ) has completed the validation process of foreign exchange applications submitted under the Blocked Funds Framework. The completion of the exercise relates to ...Published: 20 Apr 2020 at 08:01hrs | 1008 | by Staff reporter
Have price increases in Zimbabwe become a self-fulfilling prophecy
ZIMBABWE's economy never ceases to amaze. After President Emmerson Mnangagwa declared a nationwide lockdown to fight Covid-19 which has so far claimed three lives out of the 14 confirmed cases, two pa...Published: 14 Apr 2020 at 10:45hrs | 1773 | by Nathan Gurira
'RBZ policies are litany of promises to be broken' Sadly, povo who suffer consequences are powerless - change is overdue
"Unsurprisingly, the Reserve Bank of Zimbabwe (RBZ)'s 2020 monetary policy statement is more of the same — a tired litany of promises waiting to be broken and targets queuing up to be missed. Govern...Published: 11 Mar 2020 at 08:58hrs | 1663 | by Wilbert Mukori
Zimbabwe inflation target feasible, says IMF
THE International Monetary Fund (IMF) says Zimbabwe's target to reduce annual inflation to 50 percent by the end of the year from 500 percent in December 2019 is achievable.IMF's representativ...Published: 09 Mar 2020 at 20:11hrs | 780 | by Staff reporter
What IMF report really says about Zimbabwe's economy
Unsurprisingly, the Reserve Bank of Zimbabwe (RBZ)'s 2020 monetary policy statement is more of the same — a tired litany of promises waiting to be broken and targets queuing up to be missed. Governo...Published: 06 Mar 2020 at 12:34hrs | 566 | by Anthony Hawkins
RBZ disputes printing money claim
THE Reserve Bank of Zimbabwe (RBZ) has denied reports of printing money despite the supply rate growing 250% last year to $35 billion, with a further 31,42% year to date increase expected by month end...Published: 05 Mar 2020 at 05:48hrs | 375 | by Staff reporter
RBZ sets ceiling for reserve money growth
THE Reserve Bank of Zimbabwe (RBZ) says it will maintain a tight monetary stance targeting reserve money growth not exceeding 15 percent by the end of the year. The measure is meant to enhance...Published: 05 Mar 2020 at 05:40hrs | 209 | by Staff reporter
Zimbabwe banks' lending appetite dying
Appetite for lending by Zimbabwean banks is waning. A look at the overall banks' loan-to-deposit ratio (LDR) since 2015 shows a declining trend.The loan-to-deposit ratio, as its name suggests,...Published: 04 Mar 2020 at 08:11hrs | 677 | by Staff reporter
Assessing the latest Monetary Policy Statement
The Reserve Bank of Zimbabwe (RBZ) delivered its first monetary policy statement for 2020 (On 17 of February 2020) with an impetus on stabilizing prices and the exchange rate. The central bank deliver...Published: 03 Mar 2020 at 07:50hrs | 430 | by Victor Bhoroma
'Tell Mnangagwa the truth about economy'
PARLIAMENTARIANS have called on economic stakeholders to be honest when meeting President Emmerson Mnangagwa over the deteriorating state of the economy blamed on the unusual growth in the money suppl...Published: 03 Mar 2020 at 07:34hrs | 763 | by Staff reporter
RBZ not printing any Zimdollars
THE government said yesterday that the country was not printing money unduly and would stick to its targets aimed at stabilising the Zimbabwe dollar, to reduce prices.This comes as the Reserve...Published: 03 Mar 2020 at 05:52hrs | 2379 | by Staff reporter
Unsettled RBZ debts spark alarm
There is growing concern that delays by the Reserve Bank of Zimbabwe (RBZ) to conclude the issue of legacy debts may worsen the country's foreign currency scarcity. Reserve Bank governor John ...Published: 28 Feb 2020 at 07:31hrs | 537 | by Staff reporter
Zimbabwe fuel imports gobble US$1.2 billion
Zimbabwe spends over US$1.2bn yearly on the importation of petroleum products despite the crippling fuel shortages that the country continues to endure, Business Times reported.The fuel crisis...Published: 27 Feb 2020 at 12:16hrs | 1277 | by Staff reporter
Why Prof Mthuli Ncube and John Mangudya must resign
In this dossier I am challenging the Finance Minister, Mr Mthuli Ncube, and his RBZ counterpart Mr Mangudya to resign with immediate effect citing their combined failure to fulfil their objectives and...Published: 26 Feb 2020 at 09:19hrs | 1250 | by Magugu Benard, ZAPU NPC member (Midlands province)
Mthuli Ncube, Mangudya must resign
In this dossier, I am challenging the Finance Minister, Mr Mthuli Ncube, and his RBZ counterpart Mr Mangudya to resign with immediate effect citing their combined failure to fulfil their objectives an...Published: 26 Feb 2020 at 08:43hrs | 1421 | by Magugu Benard, ZAPU NPC member (Midlands province)
US dollar fuel helps save forex, claims Mangudya
The move by the central bank to allow all fuel service stations with free funds to import fuel for sale in foreign currency, will help the economy save much-needed critical foreign currency, Reserve B...Published: 26 Feb 2020 at 05:53hrs | 509 | by Staff reporter
Mangudya dodges questions on 'risky' depositors
Reserve Bank of Zimbabwe governor John Mangudya yesterday refused to publicly disclose the identity of the 200 depositors who own the bulk of the $34,5 billion bank deposits in the country.Man...Published: 25 Feb 2020 at 06:55hrs | 1869 | by Staff reporter
$12,6 billion loans not enough, say experts
ZIMBABWE's banking sector advanced an incremental $12,6 billion across different sectors of the economy in 2019, but business analysts say the amount was not adequate to meet industry needs. L...Published: 24 Feb 2020 at 06:31hrs | 108 | by Staff reporter
Mangudya defends Mnangagwa linked Zuva for selling fuel in forex
THE coming in of more fuel service stations licensed to sell in foreign currency will not jeopardise the de-dollarisation process, but will increase options for motorists and help bring more forex fro...Published: 24 Feb 2020 at 06:31hrs | 1937 | by Staff reporter
RBZ confident of ending cash shortages
BANKS should constantly update the central bank on the amount of money they need to meet demand from depositors, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said.Ordinary Zimb...Published: 23 Feb 2020 at 08:26hrs | 626 | by Staff reporter
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