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Zimbabwe's Mnangagwa slams powerful nations' double standards
President Mnangagwa has strongly criticized the double standards of certain influential nations that publicly advocate for peace, human rights, good governance, and democracy while covertly supporting...Published: 22 Sep 2023 at 06:23hrs | 1 | by Staff reporter
Mbudzi US$88m controversy: Mthuli Ncube told to explain
PARLIAMENT'S Public Accounts Committee chairperson Brian Dube says Finance and Economic Development minister Mthuli Ncube should explain the decision to borrow US$88 million to fund the construction o...Published: 12 Feb 2023 at 11:18hrs | 9 | by Staff reporter
Debt financing to fund 2023 budget
Finance minister Mthuli Ncube says debt financing will be used to fund the $4,5 trillion 2023 national budget, raising concerns about money supply growth.Treasury expects $3,9 trillion in reve...Published: 04 Dec 2022 at 08:11hrs | | by Staff reporter
Mnangagwa's govt turns to Treasury bills, bonds
THE cash-strapped government is likely to print money to finance its $575,5 billion budget deficit, economic analysts warned yesterday after Finance minister Mthuli Ncube announced next year's $4,5 tr...Published: 25 Nov 2022 at 05:12hrs | | by Staff reporter
Mnangagwa's govt draws down US$311m from IMF kitty
ZIMBABWE has drawn down US$311 million from the US$958 million it was allocated under extra Special Drawing Rights by the International Monetary Fund in August last year, an automatic allocation along...Published: 14 Nov 2022 at 05:09hrs | | by Staff reporter
Mthuli Ncube told to come clean on IMF funds
FINANCE minister Mthuli Ncube has been told to come clean on the utilisation and disbursement of the International Monetary Fund (IMF) Special Drawing Rights (SDR) funds.The Budget and Finance...Published: 22 Aug 2022 at 07:09hrs | | by Staff reporter
Pfumvudza targets 3,5 million Zimbabwean households
The Pfumvudza/Intwasa programme will be extended to 3,5 million households for the 2022/2023 summer cropping season, and the Government has already released $20 billion towards the goal, as efforts to...Published: 29 Jul 2022 at 06:45hrs | | by Staff reporter
Treasury yet to disburse US$30m industry bailout
TREASURY is yet to disburse about US$30 million it promised to industry under the Special Drawing Rights (SDR) to boost capacity utilisation and save some firms from total collapse.This was re...Published: 23 Jul 2022 at 07:32hrs | 6 | by Staff reporter
'Timely IMF boost saved Zimbabwe'
A PAN African lender has ranked Zimbabwe among the biggest beneficiaries of the US$33 billion injected into the region's economies by the International Monetary Fund (IMF) last year.Africa Exp...Published: 14 Jun 2022 at 06:41hrs | | by Staff reporter
'The Reserve Bank of Zimbabwe is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 05 Jun 2022 at 09:00hrs | 1 | by Staff reporter
'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 11 | by Staff reporter
'The Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 15 May 2022 at 06:12hrs | 8 | by Staff reporter
Mthuli Ncube holds talks with investors on USD bond
Finance and Economic Development Minister Professor Mthuli Ncube last week held a productive meeting with international investors who are keen to participate in the Government's US$100 million bond th...Published: 25 Apr 2022 at 08:49hrs | | by Staff reporter
Zimbabwe to draw US$145 million IMF funds
SOME US$145 million from the US$960 million Special Drawing Rights released by the International Monetary Fund last year to cushion member States against the effects of the Covid-19 pandemic will be d...Published: 06 Apr 2022 at 06:24hrs | | by Staff reporter
'Zimbabwe yet to discover real exchange rate'
Faced by persistent macro – economic instability from parallel market exchange rate volatility, Zimbabwe introduced the foreign currency auction system in June 2020.Authorities were convince...Published: 13 Mar 2022 at 08:00hrs | 1 | by Staff reporter
2022 Post Budget Analysis
The Zimbabwean government presented a ZW$927.3 billion budget (18% of GDP) for the 2022 fiscal year. The government expects to collect revenues totaling ZW$850.7 billion (17% of GDP), thus resulting i...Published: 13 Dec 2021 at 09:11hrs | 5 | by Victor Bhoroma
Parly to fast-track Budget debate
The National Assembly has agreed to fast-track debate on the $927 billion 2022 National Budget which was presented by Finance and Economic Development Minister Professor Mthuli Ncube last month to ens...Published: 12 Dec 2021 at 19:50hrs | 7 | by Staff reporter
US$1bn SDRs to be used over three years
The US$958 million worth of Special Drawing Rights (SDRs) allocated to Zimbabwe by the International Monetary Fund (IMF) will be used over a three-year period, with US$311 million expected to be relea...Published: 28 Nov 2021 at 07:48hrs | 5 | by Staff reporter
Mnangagwa govt to borrow US$1,4bn
GOVERNMENT has announced a plan to borrow ZW$146,8 billion (about US$1,4 billion) in 2022 to fund various infrastructure development projects.This debt would add to the existing stock of US$13...Published: 26 Nov 2021 at 19:42hrs | 9 | by Staff Rporter
Covid-19 protocols remain in force
Cabinet received an update on the country's response to the Covid-19 pandemic, procurement and roll-out of vaccines, as presented by chairman of the Ministers' National Committee, Vice President and M...Published: 17 Nov 2021 at 05:06hrs | 8 | by Staff reporter
'Zimbabwe's economic fundamentals are strong'
THE economy is on a growth trajectory with Gross Domestic Product (GDP) projected to grow by 7,8 percent in 2021, attributed to a favourable rainfall season, higher international mineral commodity pri...Published: 14 Nov 2021 at 05:38hrs | 8 | by Professor Mthuli Ncube
IMF freezes funds for Afghanistan over political uncertainty
The International Monetary Fund (IMF) has put on hold funds to Afghanistan amid the rising uncertainty in the country.These developments came after IMF recently announced a $650 billion Specia...Published: 08 Nov 2021 at 14:12hrs | 7 | by Agencies
ZSE gains US$287bn
THE Zimbabwe Stock Exchange (ZSE) gained $286,760 billion in value during the third quarter of this year due to inflation hedging activities and increased retail investors participation, a report by O...Published: 01 Nov 2021 at 07:29hrs | 7 | by Staff reporter
SDRs war chest to bolster reserves
THE nearly US$1 billion special drawing rights (SDRs), which Zimbabwe received from the International Monetary Fund (IMF), will bolster the country's foreign currency reserves and capacity to re...Published: 05 Oct 2021 at 06:28hrs | 7 | by Staff reporter
Authorities unleash sweeping crackdown on forex market
IN a renewed bid to contain the runaway foreign exchange rate - now trading at double the official rate around US$1: ZW$170 - the government has launched a fierce crackdown on currency traders in a mu...Published: 03 Oct 2021 at 08:19hrs | 8 | by Staff reporter
Currency crisis alarms Zimbabwe business
BUSINESS has expressed alarm over the free- falling Zimbabwe dollar, warning that the foreign currency crisis could plunge the economy into a deeper crisis.The gap has been widening between th...Published: 03 Oct 2021 at 08:16hrs | | by Staff reporter
Parly demands role in IMF windfall use
ZIMBABWE'S parliament wants a huge say in the way government will distribute a nearly US$1 billion windfall injected recently into the economy by the International Monetary Fund (IMF).The wind...Published: 01 Oct 2021 at 08:05hrs | | by Staff reporter
Zimbabwe exceeds Africa health funding target
ZIMBABWE has surpassed the Abuja Declaration target which requires that countries spend at least 15 percent of their national budgets on the health sector, Finance and Economic Development Minister Pr...Published: 23 Sep 2021 at 07:51hrs | 6 | by Staff reporter
Biti caution govt over IMF windfall
ZIMBABWE'S former Finance ministers Herbert Murerwa and Tendai Biti have warned the government against using the recent US$961 million worth of special drawing rights (SDRs) from the International Mon...Published: 10 Sep 2021 at 07:39hrs | | by Staff reporter
Will the IMF US$961m windfall rescue Zimbabwe?
According to the International Monetary Fund (IMF), Covid-19 has caused substantial long-term global macroeconomic environment change, and the pandemic inflicted long-term scars on the global economy....Published: 05 Sep 2021 at 07:04hrs | | by Learnmore Nyamudzanga
IMF SDR release puts Biti in his place
IN April 2021, the International Monetary Fund's Catastrophe Containment and Relief Trust (CCRT) granted debt relief to the 28 poorest and most vulnerable countries hit by catastrophic natural disaste...Published: 05 Sep 2021 at 06:53hrs | | by Nobleman Runyanga
'Top bankers assigned to guard Zimbabwe's IMF windfall'
Finance Minister Mthuli Ncube laid out a solid spending plan for the US$961 million recently injected by the International Monetary Fund (iMF), saying the windfall would be guarded by three top banker...Published: 03 Sep 2021 at 07:01hrs | | by Staff reporter
'Banks troop back into Zimbabwe agric funding'
GOVERNMENT has announced a fresh plan to attract banks into funding agricultural production, with draw-downs from the recently released International Monetary Fund Special Drawing Rights (SDRs) being ...Published: 03 Sep 2021 at 06:57hrs | 6 | by Staff reporter
Chamisa's MDC fears Zanu-PF will use IMF US$1 billion for 'electioneering'
Close to US$1 billion released to Zimbabwe by the International Monetary Fund (IMF) could be misused by the Zanu-PF government to finance its 2023 election campaign, the Movement for Democratic Change...Published: 30 Aug 2021 at 19:35hrs | | by Staff reporter
Zimbabwe's IMF funds targeted for industry
A portion of the US$961 million received from the International Monetary Fund (IMF) in the form of Special Drawing Rights (SDRs) could be used to extend concessionary loans to industry.The IMF...Published: 29 Aug 2021 at 07:10hrs | 1 | by Staff reporter
IMF funds to power Zimbabwe's economic agenda
The US$961 million boost received from the International Monetary Fund (IMF) last week will give impetus to the country's economic programmes guided by the five-year National Development Strategy 1 (N...Published: 29 Aug 2021 at 07:07hrs | 1 | by Staff reporter
Chamisa raises alarm over IMF funds which Biti wanted blocked
OPPOSITION MDC Alliance leader Nelson Chamisa yesterday expressed fear that President Emmerson Mnangagwa's Zanu-PF government could use the money sourced from the International Monetary Fund (IMF) for...Published: 27 Aug 2021 at 06:45hrs | | by Staff reporter
Biti's efforts to block IMF from giving Zimbabwe funds failed
Despite MDC-Alliance vice president Tendai Biti's efforts to block the International Monetary Fund (IMF) from giving Zimbabwe nearly US$1 billion in Special Drawing Rights (SDRs), the Government of Zi...Published: 26 Aug 2021 at 17:45hrs | | by Staff Reporter
Zimbabwe to use IMF funds to support beleaguered Zimdollar
THE government will hold back $500m of the $961m IMF funds to support the currency which has plunged.Zimbabwe will use more than half of the $961 million allocated by the International Monetar...Published: 25 Aug 2021 at 18:37hrs | | by Staff reporter
Zimbabwe receives US$1bn IMF windfall today, Biti will cry
Zimbabwe is set to get an injection of around US$1 billion, its allocation of Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) today, with part of the money earmarked for healt...Published: 24 Aug 2021 at 06:30hrs | | by Staff reporter
IMF approves SDR for Zimbabwe, Biti will not be happy
The International Monetary Fund (IMF) has approved a new general allocation of Special Drawing Rights (SDR) equivalent to US$650 billion, the largest in the IMF's history, in an effort to boost global...Published: 04 Aug 2021 at 06:24hrs | | by Staff reporter
Zimbabwe's COVID-19 budget dries up
ZIMBABWE'S COVID-19 fight might soon go off the rails if government does not urgently mobilise additional funding after exhausting US$93,2 million of the US$100 million budgeted for vaccine imports, w...Published: 02 Aug 2021 at 07:47hrs | | by Staff reporter
Zimbabwe charms IMF
ZIMBABWE continues to charm the international community, with the International Monetary Fund (IMF), saying its relations with Harare have been evolving in a very positive way for some time.Si...Published: 04 Feb 2018 at 08:04hrs | 1 | by Staff Reporter
Scaling up Development Finance
SYDNEY and KUALA LUMPUR - The Business and Sustainable Development Commission has estimated that achievement of Agenda 2030 for the Sustainable Development Goals will require US$2-3 trillion of additi...Published: 05 Sep 2017 at 20:04hrs | | by Anis Chowdhury and Jomo Kwame Sundaram
IMF warns Zimbabwe
The International Monetary Fund has warned Zimbabwe not to take on additional debt under non-concessionary terms, as the country pursues its arrears clearance plan with multilateral lenders.La...Published: 09 Jul 2017 at 08:00hrs | | by The Sources
Britain and its allies lobby against Zimbabwe arrears plan
"Western embassies will not support Zimbabwe except the British who want the Harare issue to be rolled over to 2017," a source said, adding: "The British want the...Published: 25 Nov 2016 at 12:53hrs | 1 | by Staff reporter
The strange case of Zimbabwe's IMF's repayment
On 28 October 2016, Zimbabwe utilized part of its Special Drawing Rights (SDRs) to settle the US$108 million it owed to the IMF's Poverty Reduction and Growth Trust Fund (PRGT), which funds were held ...Published: 26 Oct 2016 at 22:28hrs | | by PDP
Chinamasa in London, says hopeful
Zimbabwe hopes to get its proposal to clear debt arrears with multilateral lenders signed off by December, enabling it to start talks with bilateral sovereign lenders, Finance Minister Patrick Chinama...Published: 05 Jul 2016 at 09:08hrs | | by Staff reporter
Zimbabwe's doomed re-engagement exercise
As the PDP we have consistently argued against the regime's re engagement exercise. Our objection has been clear and is based on principle. It has been based on long years of understanding Zanu-PF...Published: 22 Jun 2016 at 11:24hrs | | by Jacob Mafume & Vince Musewe
Zimbabwe to use Chinese Yuan early next year
Zimbabwe could start using the Chinese yuan alongside the United States dollar as early as 2016, with the Reserve Bank of Zimbabwe and People's Bank of China already finalising modalities, The Sunday ...Published: 20 Dec 2015 at 09:30hrs | | by Staff Reporter
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