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Mthuli Ncube faces uphill task
FINANCE minister Mthuli Ncube, expected to present his mid-term budget statement next week, faces a daunting task to craft a cocktail of measures to stem the steepest economic decline in Zimbabwe sinc...Published: 10 Jul 2020 at 07:21hrs | 4057 | by Staff reporter
'Zimbabwe's fuel pricing structure is flawed, uncompetitive'
AS the country reels under acute fuel shortages, compounded by the depreciating Zimbabwean dollar and limited foreign currency, senior reporter Tinashe Kairiza (TK) this week spoke to National Oil Inf...Published: 10 Jul 2020 at 07:11hrs | 1513 | by Staff reporter
Zimdollar continues to depreciate against the dollar
The Zimbabwe dollar depreciated 3.2% at the foreign currency auction to 65.8765 from 63.7442 last week. Today's auction marked the entry of exporters and holders of free funds who were liquidating the...Published: 07 Jul 2020 at 17:42hrs | 3048 | by Staff reporter
Mnangagwa spends $480m on Zupco, roller meal subsidies
THE government spent $480 million on the Zupco and roller meal subsidies in the first four months of 2020, but still managed to balance its budget over the period, Treasury data shows.Governme...Published: 06 Jul 2020 at 13:08hrs | 2321 | by staff reporter
100 retail operators arrested for not accepting Zimdollar, bond notes
Refusing to accept the Zimdollar and bond notes as payment for goods has landed 102 Zimbabwean business owners and retail employees in trouble, with 28 of these appearing in court as the government en...Published: 01 Jul 2020 at 19:55hrs | 3956 | by Staff reporter
New Zimdollar to US$ rate unveiled
The Zimbabwe Dollar has done a nosedive at a forex auction conducted this Tuesday seeing the United States dollar (as ZBC termed it) firming from last week's 57 to 63.74.The nosedive com...Published: 30 Jun 2020 at 21:27hrs | 10716 | by Mandla Ndlovu
Zimdollar tanks again
The forex auction conducted this Tuesday saw the Zimbabwe dollar depreciating to Z$63.74 to the US dollar from $57.36 last week.This is the second day of the foreign currency auction foll...Published: 30 Jun 2020 at 17:42hrs | 6185 | by Staff reporter
Zimdollar continues to tumble
A forex dealer brandishes wads of $2 and $5 notes in Harare. The Zimdollar has continued losing value against stronger currencies like the rand and the United States dollar.THE Zimbabwe dollar...Published: 29 Jun 2020 at 07:46hrs | 4258 | by Staff reporter
Chamisa has been hijacked, says Mashakada
Founding MDC member and Economic Planning former minister Tapiwa Mashakada recently left the MDC-Alliance led by Nelson Chamisa claiming the party had stopped being a workers' movement and that it had...Published: 28 Jun 2020 at 17:44hrs | 8951 | by Staff reporter
EcoCash ignores govt ban amid
ECOCASH has continued offering its services despite a shock government ban on mobile money services on Friday.The government said it had suspended all mobile money services as it battles again...Published: 28 Jun 2020 at 08:17hrs | 1071 | by Staff reporter
Mobile money transactions not to blame for economic woes
FORMER Finance minister Tendai Biti has called government's ban on trading on the Zimbabwe Stock Exchange (ZSE) and all mobile money transactions as "madness" with terrible consequences.The ba...Published: 28 Jun 2020 at 08:15hrs | 558 | by Staff reporter
'Mnangagwa's govt will not print money'
THE government will not print more money to alleviate the cash shortages in the country, Deputy Finance minister Clemence Chiduwa, has said.Speaking in the National Assembly on Wednesday, Chid...Published: 27 Jun 2020 at 17:02hrs | 1491 | by Staff reporter
'RBZ's forex auction system not panacea to Zimdollar volatility'
THE Confederation of Zimbabwe Industries (CZI) has cautioned that curtailing the increase in broad money supply, among a range of fiscal measures, would ensure the success of the foreign currency auct...Published: 26 Jun 2020 at 07:50hrs | 1953 | by Staff reporter
De-dollarisation recipe for disaster: Lessons from Peru
THE following are the numerous questions that need to be addressed about the Reserve Bank of Zimbabwe (legal tender) Regulations, SI 142.Has government addressed the fundamentals which lead to...Published: 26 Jun 2020 at 07:42hrs | 1621 | by Justice Dzama
'Zimbabwe slowly but surely re-dollarising'
GOVERNMENT last week announced a 50% increment and a Covid-19 allowance of US$75 for civil servants and US$30 for pensioners. This is despite government earlier banning the multi-currency regime and m...Published: 26 Jun 2020 at 07:39hrs | 1478 | by Staff reporter
Energy workers demand US$ salaries
ZIMBABWE Energy Workers Union (Zewu) has appealed to energy companies to peg their salaries in the more stable United States dollars following the continued fall of the Zimdollar against major currenc...Published: 26 Jun 2020 at 07:32hrs | 1269 | by Staff reporter
New exchange rate trebles customs duty
THERE has been an outcry at all ports of entry after the Zimbabwe Revenue Authority (Zimra) hiked duty of all imported goods following a hike in the exchange rate by the Reserve Bank of Zimbabwe on Tu...Published: 26 Jun 2020 at 07:32hrs | 1482 | 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 | 6350 | by Staff reporter
Minister Raj Modi's shop demands foreign currency...rejects Zimdollar and bond notes
The Bulawayo based Wholesale Centre Liquor Hub owned Deputy Minister of Industry and Commerce Rajeshkumar Indukant Modi is reportedly refusing to accept bond notes and local currency as a medium...Published: 25 Jun 2020 at 15:25hrs | 2374 | by Mandla Ndlovu
Zimdollar tumbles
THE Zimbabwe dollar shed nearly 79% of its value on the first day of being floated under a foreign currency auction system launched yesterday.At the close of the auction, the official exchange...Published: 24 Jun 2020 at 07:28hrs | 4364 | by Staff reporter
Zimdollar trades at 57.36 to the US dollar
THE official exchange rate of the US dollar is now 57.36 following the implementation of the market-based auction system. 92 bids were received with the lowest bid being 25.50 and the highest bid bein...Published: 23 Jun 2020 at 18:13hrs | 1915 | by Staff reporter
Doctors joining nurses' strike
JUNIOR doctors have threatened to go on strike, joining the industrial action by nurses that started last week citing deteriorating working conditions, which will negatively affect the country's battl...Published: 23 Jun 2020 at 07:56hrs | 1057 | by Staff reporter
Informal traders reject $2, $5 notes
INFORMAL traders are rejecting $2 and $5 bond notes as well as coins, money which the Reserve Bank of Zimbabwe (RBZ) has said is still legal tender. Police yesterday also warned those rejectin...Published: 23 Jun 2020 at 07:52hrs | 1181 | by Staff reporter
Mnangagwa faces sterner test
EMBATTLED President Emmerson Mnangagwa is facing his sternest economic test since assuming power in 2017 as the crash of the Zimbabwean dollar pushes up prices, amid growing disenchantment with his le...Published: 19 Jun 2020 at 08:26hrs | 9750 | by Staff reporter
Zimbabwe's economic collapse govt's own doing
PRESIDENT Emmerson Mnangagwa's claims that the deepening economic crisis is the work of his political detractors and greedy businesspeople reflect the government's failure to take responsibility for i...Published: 19 Jun 2020 at 08:25hrs | 1606 | by Staff reporter
Zimbabwe instability blights Common monetary Area prospects
FORMER Finance minister Tendai Biti says Zimbabwe's economic crisis, characterised by currency volatility, 785% inflation, a gargantuan debt stock estimated at US$10 billion and dwindling exports, hin...Published: 19 Jun 2020 at 08:25hrs | 792 | by Staff reporter
MDC and politics of denial psychology and deflection
WE are a pretty impressionable people. We all like to say that we are independent, free individuals who make up our own minds, but the reality is that we are heavily influenced by the company we keep....Published: 19 Jun 2020 at 08:23hrs | 1700 | by Jonathan Chando
'Zimbabwe's US dollar allowance to stimulate economic activity'
GOVERNMENT'S move to pay civil servants a United States dollar allowance may stimulate economic activity in the shortterm, but will expedite re-dollarisation, economic analysts have said.Gover...Published: 19 Jun 2020 at 08:20hrs | 1667 | by Staff reporter
Zimbabwe forex auction system ill-advised: Analysts
GOVERNMENT'S re-introduction of the forex auction system as Zimbabwe effectively re-dollarises could have disastrous consequences because the country does not have adequate sources of foreign currency...Published: 19 Jun 2020 at 08:15hrs | 1320 | by Staff reporter
Mthuli Ncube must apologise for 'lying', says Biti
FORMER Finance minister Tendai Biti (Harare East MP) yesterday demanded that Finance minister Mthuli Ncube appear before Parliament to explain fiscal policy inconsistencies and apologise for "lying th...Published: 19 Jun 2020 at 08:12hrs | 2197 | by Staff reporter
Of RBZ's forex trading system, Zimbabwe's currency muddle
RESERVE Bank of Zimbabwe (RBZ) has announced a new foreign currency auction system, saying it will bring "transparency and efficiency" to currency trade.The auction system is the latest in a s...Published: 19 Jun 2020 at 08:11hrs | 611 | by Alfonce Mbizwo
US$ for Zimbabwe civil servants
GOVERNMENT yesterday raised salaries of its restive workers by 50% and awarded them a non-taxable monthly allowance of US$75 as nurses at public hospitals picketed in the morning protesting poor salar...Published: 18 Jun 2020 at 08:27hrs | 1836 | by Staff reporter
Mnangagwa govt's dangerous paranoia will keep hurting economy
IT is not a secret that Zimbabwe's economy is under severe strain from various factors: effects of the coronavirus pandemic-induced lockdown, power cuts, currency crunch, high inflation, exchange rate...Published: 17 Jun 2020 at 07:05hrs | 590 | by Staff reporter
RBZ sweats over depreciating Zimdollar
THE Reserve Bank of Zimbabwe (RBZ) measures to stem parallel market activities are proving to be futile as the Zimbabwe dollar continues to plunge on the forex parallel market.Even after the c...Published: 17 Jun 2020 at 07:00hrs | 1921 | by Staff reporter
Pressure mounts over Zimbabwe currency regime
PRESSURE is again building on the central bank over its currency regime, as RioZim warns it can no longer sustain operations due to payment delays and the fixed exchange rate, while the Chamber of Min...Published: 17 Jun 2020 at 06:59hrs | 1505 | by Staff reporter
Mthuli Ncube tells Zanu-PF that he's no magician
FINANCE minister Mthuli Ncube on Wednesday told glum-faced Zanu-PF heavyweights in a closed-door politburo meeting that the economy is in terrible shape and he has no magic wand to rescue it overnight...Published: 12 Jun 2020 at 08:01hrs | 7472 | by Staff reporter
Mnangagwa seeks divine help as crises mount
PRESIDENT Emmerson Mnangagwa will lead a national day of fasting and prayer to seek divine intervention to deal with the country's worsening health, hunger and economic crises.Hopes that Mnang...Published: 10 Jun 2020 at 08:02hrs | 5392 | by Staff reporter
Zimbabwe's debt-to-GDP ratio to exceed 100%
THE Zimbabwe Economic Policy Analysis and Research Unit (Zeparu) says the country's debt to gross domestic product (GDP) ratio will balloon to 101,6% by year end due to legacy debt, farmers' compensat...Published: 09 Jun 2020 at 08:02hrs | 313 | by Staff reporter
RBZ abandons fixed forex exchange system
THE Reserve Bank of Zimbabwe (RBZ), which was using the fixed exchange rate of US$1:$25, says it will switch back to market-determined exchange rate as the Zimbabwe dollar continues to lose value....Published: 09 Jun 2020 at 07:57hrs | 9274 | by Staff reporter
Arresting inflation in Zimbabwe
The response I received from last week's instalment on why the Zimbabwe dollar must be put on the gold standard was overwhelming.Many readers wanted to know when the Zimdollar was going to be ...Published: 07 Jun 2020 at 08:50hrs | 874 | by Bart Star-James
Labour cranks pressure on USD salaries
The Zimbabwe Congress of Trade Unions (ZCTU) wants the government to come up with a clear economic reform strategy culminating in the redollarisation of the economy as the weakening local currency tak...Published: 04 Jun 2020 at 17:56hrs | 2094 | by Staff reporter
How Zimbabwe can return to economic glory days
Former Economic Planning and Investment Promotion minister Tapiwa Mashakada (TM) believes Zimbabwe can return to its glory days of the early 1980s when the economy was stable and end poverty. He discu...Published: 01 Jun 2020 at 08:51hrs | 508 | by Staff reporter
Clueless gaze in the face of free-falling Zimdollar
THE spectacular collapse of the Zimbabwean dollar in the past week has yet again exposed the government's bankrupt currency policies worsening the country's deepening economic crisis.The Zimdo...Published: 29 May 2020 at 08:17hrs | 426 | by Staff reporter
'Restrictions on ZIPIT counter-productive'
IN a desperate bid to halt the rapid weakening of the Zimbabwean dollar, the Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) has, with immediate effect, imposed daily and monthly tr...Published: 29 May 2020 at 08:15hrs | 654 | by Staff reporter
RBZ governor needs prayers, not Zimbabweans
IT was difficult listening to central bank governor, John Mangudya speaking in Parliament without feeling patronised."I pray for Zimbabwe each morning, saying, ‘Oh God, help Zimbabweans unde...Published: 28 May 2020 at 08:02hrs | 1422 | by Staff reporter
Insights into Mangudya's era of fibs, fiddling
RESERVE Bank of Zimbabwe governor John Mangudya (pictured) says he has been praying for Zimbabweans to understand economics. Zimbabweans, in turn, have been making the same prayers - for him.T...Published: 28 May 2020 at 07:59hrs | 1311 | by newZWire
Weakening Zimdollar wreaks havoc
MARKET forces have caused havoc on the Zimbabwe dollar on the parallel market, with the exchange rate shooting to US$1:$70.Last week, from Monday to Saturday, the US$:Zimdollar rate plunged ne...Published: 25 May 2020 at 08:02hrs | 2238 | by Staff reporter
COVID-19 delays April inflation stats
THE Zimbabwe National Statistical Agency (ZimStat) says it has delayed the publication of last month's inflation figures due to the COVID-19-induced lockdown that crippled the data collection process....Published: 25 May 2020 at 08:01hrs | 1006 | by Staff reporter
Zimdollar crashes
LONG suffering Zimbabweans will have to dig deeper into their pockets to survive, after prices of basic goods went up sharply again at the weekend - on the back of the collapsing Zim dollar.At...Published: 24 May 2020 at 16:50hrs | 10777 | by Staff reporter
EcoCash saga: Arrest highway robbers, not Zinara officials
WHEN highway robbers become a menace, does it make sense for the authorities to solve the problem by arresting Zimbabwe National Roads Administration (Zinara) officials?This has become a burni...Published: 24 May 2020 at 08:38hrs | 1807 | by Brezh Malaba
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