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Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
'Full dollarisation suicidal for Zimbabwe'
THE Reserve Bank of Zimbabwe (RBZ) has warned against full dollarisation as the economy battles exchange rate volatility which has triggered astronomical price hikes.In 2008, the country ditch...Published: 20 Jun 2023 at 18:39hrs | 1 | by Staff reporter
Mthuli Ncube's quotes on currency reforms . . .
"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...Published: 01 Jul 2019 at 08:13hrs | 1 | by Lisa Tazviinga
Mnangagwa warned of brewing unrest
THERE are growing fears that Zimbabwe's fast-deteriorating economic situation - marked by shocking price hikes and severe shortages of foreign currency, fuel and vital medicines - could trigger social...Published: 23 Apr 2019 at 07:49hrs | | by Staff reporter
Mthuli Ncube wages war against surging inflation
Zimbabwe's annual inflation has risen to a 10-year high since hyperinflation, but month-on-month prices are beginning to drop as monetary reforms aimed at combating inflation, addressing foreign curre...Published: 17 Mar 2019 at 18:08hrs | 1 | by Staff reporter
Mangudya's retreat to safety is timely.....
Governor Mangudya has fundamentally been a good central banker, and perhaps that is why, just like yesterday afternoon, he frequently deflates the air of anticipation that precedes his scheduled polic...Published: 21 Feb 2019 at 21:03hrs | 1 | by Staff reporter
How not to win hearts and minds
In a country that is used to turmoil, the month of January will go down as a period when we literally shot ourselves in the foot.The 2017 November coup brought to a close 38 years of dic...Published: 06 Feb 2019 at 08:33hrs | | by Eddie Cross
'Float or demonetise bond notes,' says experts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya is this week expected to present the monetary policy statement amid calls that he should address the deep-seated currency challenges which are aff...Published: 27 Jan 2019 at 19:18hrs | | by Staff reporter
Mnangagwa's ministers fail 2018 ratings
As Zimbabweans waved goodbye to 2018 yesterday, and awaited with much trepidation the dawn of the new year, in the light of the country's deepening economic woes, the Daily News - as per its rich annu...Published: 02 Jan 2019 at 14:20hrs | 1 | 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 | | by Staff reporter
Mthuli Ncube in currency volte-face
Finance minister Mthuli Ncube, who two months ago indicated that he would prioritise currency reforms, including demonitising the country's fiat currency last Wednesday made a huge climb down on the p...Published: 04 Dec 2018 at 20:37hrs | 2 | by Staff reporter
Chamisa heaps pressure on Mnangagwa
As Zimbabwe's economy continues to deteriorate opposition leader Nelson Chamisa cranked up the political heat on President Emmerson Mnangagwa and his ruling Zanu-PF yesterday, calling for the immediat...Published: 30 Nov 2018 at 10:37hrs | 3 | by Staff reporter
Mthuli Ncube boost for insurance sector
FINANCE Minister Mthuli Ncube says government has reviewed upwards the minimum prescribed asset thresholds for the insurance and pension industry which were introduced in 2010 in order to improve reso...Published: 30 Nov 2018 at 09:29hrs | | by Staff reporter
Mnangagwa to do a Narendra Modi on Zimbabwe black market?
There are whispers the President Emmerson Mnangagwa will come hard on the black market with some saying he will do what Indian Prime Minister Narendra Modi did in India in 2016. The secrecy with which...Published: 11 Oct 2018 at 18:17hrs | 5 | by Ndoro Tafadzwa
Currency reform answer to Zimbabwe's economic woes
THE success of the new Government's effort to transform the country's economy, both in the immediate and future term hinges on addressing the currency reform problem. The vision of the Government is t...Published: 21 Sep 2018 at 06:44hrs | | by Bongani Ngwenya
Mthuli Ncube gets shock reality check
NEWLY-appointed Finance minister Mthuli Ncube - who arrived in the country from Switzerland early this week amid a populist storm and blaze of publicity on how to fix Zimbabwe's critically broken econ...Published: 14 Sep 2018 at 16:27hrs | | by Staff reporter
'Bond notes to go before year end,' says Mthuli Ncube
New Finance Professor Mthuli Ncube says bond notes could be gone by the end of this year."I am very clear that there have to be currency reforms and the (current) currency approach is not work...Published: 09 Sep 2018 at 20:17hrs | 7 | by Staff reporter
New ministers to make tough decisions
Newly appointed Cabinet ministers, who will be sworn in tomorrow, believe President Emmerson Mnangagwa's vision of creating a middle-income economy by 2030 is attainable, and tough decisions will have...Published: 09 Sep 2018 at 08:09hrs | | by Staff reporter
Zimbabweans agonise over bond notes
Despite central bank governor John Mangudya's best efforts to assure wary Zimbabweans that the introduction of the country's much-distrusted bond notes next month would only do the dying local eco...Published: 18 Sep 2016 at 15:57hrs | | by Staff reporter
Bond notes illegal, says Mujuru
Zimbabwe People First leader Dr Joice Mujuru has approached the Constitutional Court challenging Government's decision to introduce bond notes as part of a raft of measures to stem the liquidity crunc...Published: 04 Aug 2016 at 06:40hrs | | by Fidelis Munyoro
Account holders with closed banks to be paid by April
THE Deposit Protection Corporation (DPC) and the Reserve Bank of Zimbabwe (RBZ) have finished compiling the list of Zimbabwe dollar account holders whose money was locked in banks that were closed aft...Published: 07 Feb 2016 at 08:13hrs | | by Roberta Katunga
Banks pay out $7m in Zimdollar compensation
Banks have paid out about $7,2 million in compensation for the demonetised Zimbabwean dollar, figures from the Ministry of Finance and Economic Development show. The demonetisation process...Published: 11 Dec 2015 at 06:51hrs | | by Staff reporter
Chinamasa deserves Nobel Prize in economics
IN its post-colonial history since 1980, Zimbabwe has gotten one big thing right, inter alia: the multi-currency system.To cut a long a long story short, Zimbabwe currently has arguably, the l...Published: 11 Aug 2015 at 08:32hrs | | by Colls Ndlovu
Bond coins use rises
A MAJORITY of Zimbabweans now prefer using bond coins to avoid exchange losses given the weakening of the South African rand against the United States dollar, according to the Reserve Bank of Zimbabwe...Published: 10 Aug 2015 at 09:43hrs | | by Business Reporter
$4m paid out for old ZimDollars - RBZ
Reserve Bank of Zimbabwe governor John Mangudya has said at least $4 million has been paid out to customers to date as part of the demonetisation of the Zimbabwean dollar which started in June a...Published: 09 Aug 2015 at 09:07hrs | | by Staff reporter
RBZ demonetisation process snubbed
Most Zimbabweans on Monday snubbed the Reserve Bank of Zimbabwe's demonetisation process as a handful of people went to various banks to exchange their worthless local currency.Some clients we...Published: 16 Jun 2015 at 06:30hrs | | by Thobekile Zhou
RBZ to hold demonetisation awareness campaigns
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has indicated that all operating banks have now submitted their Zimbabwe dollar bank balances.The bank set aside $20 million for demon...Published: 14 May 2015 at 09:47hrs | | by Staff Reporter
Zimdollar account verification starts
THE Reserve Bank of Zimbabwe (RBZ) has announced that some Zimbabwe dollar account holders will get more than $5 in compensation. In remarks likely to raise the interest of many, RBZ deputy go...Published: 23 Mar 2015 at 07:09hrs | | by Oliver Kazunga
Zimdollar account-holders to gain - RBZ
ZIMBABWE dollar account-holders whose accounts were frozen upon the introduction of the multi-currency system in 2009 are reportedly going gain more from the demonetisation formula announced by the R...Published: 01 Mar 2015 at 07:33hrs | | by Staff Reporter
Dr Tsvangirai denounces RBZ monetary policy
MDC-T leader Morgan Tsvangirai has dismissed Reserve Bank governor John Mangudya's recent monetary policy statement describing it as "anti-worker and not pro-poor".In a statement, Tsvangi...Published: 16 Feb 2015 at 05:43hrs | | by Staff reporter
'$5 compensation for Zimdollar accounts a howler,' says CZI boss
The move by the Reserve Bank of Zimbabwe to demonetise the Zimbabwe dollar balances by alloting genuine account holders $5 per account is a faux pas, Confederation of Zimbabwe Industries (CZI) pr...Published: 13 Feb 2015 at 16:42hrs | | by Tawanda Musarurwa
Mugabe destined to leave Zimbabwe without currency
PRESIDENT Robert Mugabe (91 next week) appears destined to leave the country whenever he would go without its own local currency amid clear indications by the Reserve Bank of Zimbabwe (RBZ) governor ...Published: 13 Feb 2015 at 14:47hrs | 1 | by Kudzai Kuwaza
RBZ to pay $5 for Zimdollar accounts
The Reserve Bank of Zimbabwe will pay out $5 for every Zimbabwe Dollar account as compensation for account holders that lost their money in 2008 with the introduction of the multi-currency regime....Published: 11 Feb 2015 at 17:00hrs | | by Rumbidzayi Zinyuke
'Gono saved Zimbabwe,' says Chinamasa
Finance minister Patrick Chinamasa yesterday defended former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono's quasi-fiscal activities, saying the interventions were necessary to save the economy...Published: 03 Feb 2015 at 14:40hrs | | by Staff reporter
Bond coins, signs Zim dollar might return
POLICY and economic analyst Butler Tambo has said the introduction of bond coins by the Reserve Bank of Zimbabwe (RBZ) last Thursday was a sign that the Zimbabwe dollar might be brought back withi...Published: 22 Dec 2014 at 06:27hrs | | by Staff Reporter
Banks demand Zimdollar losses compensation
THE banking sector is demanding for finalisation in the demonetisation and reimbursement of the Zimbabwe dollar balances, the Bankers' Association of Zimbabwe (BAZ) has saidBAZ president Sam M...Published: 21 Nov 2014 at 06:47hrs | | by Staff reporter
Govt to compensate Zimdollar losses
Treasury is considering a token repayment for the Zimbabwe dollar accounts lost in the changeover to the multi-currency regime in 2009, and this to restore confidence in the financial services sector,...Published: 22 Jul 2014 at 07:00hrs | | by Staff reporter
Botswana phases out old coin
The Bank of Botswana (BoB) has announced the demonetisation of the old coin following the introduction of the new family of coin in February.Botswana's central bank said the use of the old...Published: 11 Jul 2014 at 09:12hrs | | by Business Reporter
No return to Zim dollar
PENSIONERS need not fear a sudden and unplanned return of the Zimbabwe dollar, which could upset savings and reverse current efforts aimed at growing confidence in the pensions industry, a cabinet m...Published: 24 May 2013 at 07:13hrs | | by Clive Mphambela I Independent
Disaster if Zimbabwe's multicurrency system changes now
EVER since Zimbabwe's currency was demonetized in February 2009, and a multicurrency system substituted in its stead, innumerable voices have repeatedly called for reintroduction of a national currenc...Published: 10 Jun 2011 at 04:53hrs | | by Eric Bloch
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