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Confusion reins over Mthuli Ncube's budget currency
CONFUSION still reins over Finance minister Mthuli Ncube's 2019 budget statement, which is in United States dollars, yet it remains unclear whether or not prescribed fines are payable in bond notes or...Published: 15 hrs ago | 4916 | by Staff reporter
Zimbabwe inflation seen slowing down in October
ZIMBABWE'S central bank expects inflation to start slowing by October and believes current inflationary pressures are a temporary phenomenon despite hitting a 10-year high of 56,9 % in January....Published: 19 Feb 2019 at 08:28hrs | 304 | by Staff reporter
'Will have local currency when economic fundamentals are right' - not right last 38 years and counting
One of the many reasons Zimbabwe is in this economic mess is the sheer incompetence of those running the nation's affairs. Our leaders have a knack for making a mountain out of a mole hill and thus en...Published: 17 Feb 2019 at 23:06hrs | 838 | by Patrick Guramatunhu
Zimbabwe urgently needs own currency
THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the loc...Published: 17 Feb 2019 at 18:44hrs | 5044 | by Edmore Ndudzo
RBZ not ready for Zimdollar return
Speculation that the Reserve Bank of Zimbabwe (RBZ) is readying itself to reintroduce the demonitised local currency gained momentum last week when former Finance minister Tendai Biti tweeted that the...Published: 17 Feb 2019 at 07:59hrs | 1064 | by Staff reporter
Mthuli Ncube, Mangudya in bitter fight over new Zimdollar
PRESIDENT Emmerson Mnangagwa has been forced to intervene in a growing turf war between Reserve Bank of Zimbabwe governor John Mangudya and his boss Finance minister Mthuli Ncube on the path Zimbabwe ...Published: 14 Feb 2019 at 15:51hrs | 19444 | by Staff reporter
'Zimbabwe to introduce domestic currency'
Zimbabwe will reintroduce domestic currency only when conditions are ripe and critical economic fundamentals are in place since using the US dollar as an anchor currency is now unsustainable, accordin...Published: 08 Feb 2019 at 09:04hrs | 7053 | by Business weekly
Return of the Zimdollar?
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya is due to release the monetary policy and the policy position is highly anticipated against the sustained monetary related macro-economic defi...Published: 07 Feb 2019 at 15:00hrs | 7249 | by Respect Gwenzi
Re-introducing local currency, not so fast
THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the a...Published: 25 Jan 2019 at 14:31hrs | 861 | by Tinashe Kaduwo
Zimbabwe local currency recipe for disaster
FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...Published: 19 Jan 2019 at 10:53hrs | 733 | by Staff reporter
Zimbabwe inflation shoots to 42,09%
ZIMBABWE'S inflation rose to 42,09% year-on-year in December, its highest for a decade, from 31,01% in November driven by increases in the price of basic goods, the Zimbabwe National Statistics Agency...Published: 18 Jan 2019 at 12:12hrs | 358 | by Staff reporter
Five people feared dead as protests hit Zimbabwe
FIVE people reportedly died while 24 others were injured as police clashed with protesters across the country yesterday as anger over the worsening economic crisis spilled onto the streets with busine...Published: 15 Jan 2019 at 06:25hrs | 1576 | by Staff Reporter
Mthuli Ncube shuts door on dollarisation
FINANCE Minister Mthuli Ncube has put-paid to any hopes of the country adopting the US dollar to tame a revolting economy, insisting Friday that government was planning on reinstating the Zimbabwe dol...Published: 13 Jan 2019 at 08:34hrs | 961 | by newzimbabwe
Mukupe pushes for Zimdollar return
Former deputy Finance minister Terence Mukupe, said without reintroducing local currency and having a serious reengagement with the United States of America (USA) the country will continue to suffer....Published: 12 Jan 2019 at 17:33hrs | 2869 | by Staff reporter
Zimbabwe to have own currency in 12 months
Finance and Economic Development Minister Professor Mthuli Ncube yesterday said the country will have its own currency within the next 12 months, as Government is frantically working on raising enough...Published: 12 Jan 2019 at 11:18hrs | 4455 | by Staff Reporter
Mnangagwa's defining moment
GOVERNMENT will today meet its restive employees in a crunch meeting for salary negotiations in a desperate bid to stop a full-blown strike that could cripple State operations.This comes as wo...Published: 10 Jan 2019 at 08:23hrs | 3530 | by Staff reporter
Mthuli Ncube's Rand option dilemma as currency crisis worsens
FINANCE minister Mthuli Ncube, who has publicly said joining South Africa's Multilateral Monetary Area could be a solution to Zimbabwe's currency crisis, is agonising over currency reforms, as it dawn...Published: 13 Dec 2018 at 20:01hrs | 12513 | by Staff reporter
Civil servants storm out of talks
NEGOTIATIONS between civil servants and government ended prematurely yesterday with representatives of the workers storming out of talks in protest after being told that there would be no new offer on...Published: 07 Dec 2018 at 05:38hrs | 1264 | by Staff reporter
'Zimbabwe economy unofficially dollarises'
Zimbabwe is undergoing bond notes substitution and progressive unofficial dollarisation, economists have said.This comes as more citizens are shunning the national currency in favour of the hi...Published: 02 Dec 2018 at 12:16hrs | 2688 | by Staff reporter
Mnangagwa, Chamisa GNU ruled out
'Zimbabwe economy unofficially dollarises'Zimbabwe is undergoing bond notes substitution and progressive unofficial dollarisation, economists have said.This comes as more citizens are shun...Published: 02 Dec 2018 at 10:50hrs | 3305 | by Staf reporter
Mnangagwa govt told to dollarise now
Daily News writer Pauline Hurungudo interviews Steve Hanke, a professor of applied economics at The Johns Hopkins University and senior fellow at the Cato Institute.Over four decades, Hanke ha...Published: 19 Nov 2018 at 15:57hrs | 7061 | by Staff reporter
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: 14 Nov 2018 at 15:10hrs | 3853 | by newZwire with The Source
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 | 3300 | by Colls Ndlovu
Ex-CIO RBZ director suspended again
Reserve Bank of Zimbabwe has suspended its senior officials pending investigations into allegations levelled against them by Finance and Economic Development Ministry chairman of the communications ta...Published: 22 Oct 2018 at 21:39hrs | 9048 | by Staff reporter
Tendai Biti always has something to say
The Daily News on Sunday's Pauline Hurungudo sits down for a wide-ranging interview with former Finance minister Tendai Biti, who is also the deputy national chairperson for the MDC, about the state o...Published: 21 Oct 2018 at 14:19hrs | 1473 | by Staff reporter
How the Zimbabwe govt stole from its people, again
THERE is a scene in the 1978 classic movie, The Great Train Robbery, which portrays the destructive arrogance of Zimbabwe's monetary policy over the past two decades.After masterminding a gold...Published: 11 Oct 2018 at 06:41hrs | 1831 | by newZWire
RBZ moves to stabilise prices
PANIC-buying amid price hikes of basic commodities peaked at the weekend in response to the Reserve Bank of Zimbabwe (RBZ)'s monetary policy statement, which economists argued failed to stem public di...Published: 08 Oct 2018 at 08:02hrs | 11566 | by Staff reporter
Case for return of Zimdollar
In year 2014, I wrote an article explaining why the government should bring back our own local currency, and I was bashed by all and sundry. I am expecting the same reaction in response to this articl...Published: 02 Oct 2018 at 09:48hrs | 1627 | by Ayanda Nyanga
Foreign currency shortages erode RioZim earnings
RESOURCES group RioZim Limited's profit after tax dropped by 86% to $406 000 in the six months to June 30, from $2,9 million last year, despite higher gold production after the central bank failed to ...Published: 02 Oct 2018 at 09:44hrs | 147 | by Staff reporter
Zimbabwe's local currency bounces back
GOVERNMENT has technically de-dollarised the economy by reintroducing local currency bank accounts, which will be traded in electronic transfers and bond notes only, and piled more taxes on the transa...Published: 02 Oct 2018 at 09:43hrs | 471 | by Staff reporter
Acute foreign currency shortage erodes RioZim earnings
RESOURCES group RioZim Limited's profit after tax dropped by 86% to $406 000 in the six months to June 30, from $2,9 million last year, despite higher gold production after the central bank failed to ...Published: 02 Oct 2018 at 09:37hrs | 290 | by Staff Reporter
'Mthuli Ncube should grow a thick skin'
Prominent economist and former MDC executive member, Eddie Cross, has urged the new Finance Minister, Mthuli Ncube, to grow a thick skin and resist executive pressure to push him to spend more than wh...Published: 22 Sep 2018 at 09:30hrs | 1253 | by Staff reporter
Chamisa's MPs walk out on Mnangagwa
THE government has secured $500 million in foreign credit facilities to ease a cash crisis that has crippled local industry, President Emmerson Mnangagwa said yesterday at the official opening of the ...Published: 19 Sep 2018 at 06:27hrs | 1541 | by Staff reporter
Mnangagwa says no to return of Zimdollar
According to Zimbabwe's new president, conditions are not yet right for foreign currencies to be replaced by the Zimbabwean dollar.Zimbabwe's new president on Tuesday ruled out an early return...Published: 18 Sep 2018 at 19:37hrs | 11271 | by AFP
Zimbabwe dismisses new currency claims
The Reserve Bank of Zimbabwe (RBZ) has dismissed social media claims that the apex bank will introduce a new currency.In a statement, RBZ Governor, Dr John Mangudya said the claims are fake, a...Published: 18 Jul 2018 at 16:50hrs | 5464 | by Staff reporter
'No Zimdollar return'
The Reserve Bank of Zimbabwe (RBZ) has refuted claims circulating on social media about the reintroduction of the banished local unit.Social media sites such as WhatsApp, Facebook and Twitter ...Published: 05 Jul 2018 at 17:36hrs | 633 | by Staff rpeorter
RBZ dismisses Zimdollar return rumours
The Reserve Bank of Zimbabwe (RBZ) has advised members of the public to ignore and dismiss the social media article on the re-introduction of the local currency with the contempt it deserves.I...Published: 03 Jul 2018 at 14:15hrs | 1115 | by Staff reporter
Chamisa to ditch the bond notes in 2 weeks
MDC Alliance presidential candidate Nelson Chamisa has promised to ditch the bond notes as the country’s currency."Once we assume office in August just give me two weeks to deal with cash ch...Published: 03 Jul 2018 at 14:05hrs | 900 | by Staff reporter
Mukupe dismisses social media reports on Zimdollar return
FINANCE and Economic Planning Deputy Minister Terrence Mukupe has dismissed a statement circulating on social media announcing the re-introduction of the local currency.The statement purported...Published: 03 Jul 2018 at 06:52hrs | 284 | by Staff reporter
Fake letter on Zimdollar return an attempt to smear Mukupe
Government will not introduce a local currency before establishing the right and necessary import cover, Finance and Economic Development Deputy Minister Terrence Mukupe has said.Addressing a ...Published: 01 Jul 2018 at 19:56hrs | 8214 | by Staff reporter
Mariyacha to introduce Zimdollar within a year
United Democratic Movement leader and 2018 Presidential candidate Mrs Violet Mariyacha says if elected, her government will bring back the Zimbabwean dollar within a year.Her main worry, she s...Published: 01 Jul 2018 at 19:54hrs | 1712 | by Staff reporter
Zimdollar to make a comeback, says Chiwenga
Vice President Constantino Chiwenga says the Zimbabwe dollar will be reintroduced at an "appropriate time", after the government has fixed the country's ailing economy.According to the state-o...Published: 30 Jun 2018 at 17:34hrs | 3126 | by Staff reporter
US dollar black market rate soars
A crazed pre-election demand for the United States dollar has pushed the black market premium to an all-time high as shortages of foreign exchange fuels a roaring currency black market now driving up ...Published: 28 Jun 2018 at 16:11hrs | 5749 | by Staff reporter
Zimdollar at appropriate time, says Chiwenga
GOVERNMENT will reintroduce a Zimbabwean currency at the appropriate time as part of a sustainable economic growth strategy, Vice President Constantino Chiwenga has said. He was addressing a Zanu-PF r...Published: 28 Jun 2018 at 06:52hrs | 1088 | by Staff reporter
Economists ponder Zimdollar return
ZIMBABWE will have to use the parallel market rate to determine the official exchange rate when it introduces a new currency, economic commentators have said.The country adopted a multi-curren...Published: 27 Jun 2018 at 06:50hrs | 1670 | by Staff reporter
Mnangagwa hints on Zimdollar return
PRESIDENT Emmerson Mnangagwa on Saturday hinted on plans to reintroduce the Zimbabwe dollar to curb the current cash shortages.Addressing a Zanu-PF campaign rally in Bulawayo, Mnangagwa said t...Published: 25 Jun 2018 at 07:34hrs | 2220 | by Staff rpeorter
Mnangagwa headache over moneychangers
Finance minister Patrick Chinamasa has blamed the police for failing to arrest unlicensed foreign currency traders saying there was a legal framework in place to curb the vice.This comes as th...Published: 07 Jun 2018 at 15:13hrs | 1359 | by Staff reporter
'Zimbabwe needs own currency'
Since the President Emmerson Mnangagwa-led new dispensation took charge last November, long-suffering Zimbabweans feel the country's economy has remained in the doldrums.The cash crisis, which...Published: 20 May 2018 at 19:46hrs | 2341 | by Staff reporter
'Chart path towards Zimdollar return'
GOVERNMENT should start developing a clear monetary plan for the introduction of local currency at the appropriate time when necessary measures have been put in place, an official said yesterday....Published: 25 Apr 2018 at 07:00hrs | 359 | by Staff reporter
Too early for ZimDollar return, says Mukupe
Government will not introduce a local currency before establishing the right and necessary import cover, Finance and Economic Development Deputy Minister Terrence Mukupe has said.Addressing a ...Published: 12 Apr 2018 at 07:07hrs | 505 | by Staff reporter
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