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Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | 12 | by Staff reporter
Withdraw Zimdollar from circulation
GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumpti...Published: 14 Feb 2024 at 19:25hrs | 2 | by Cyprian Muketiwa Ndawana
Zimbabwe election offers regime a last chance to end financial isolation
JEFFRIES Ncube looks around Zimbabwe's second city and fallen industrial heartland and observes that, for all President Emmerson Mnangagwa's promises to resurrect a ruined economy, many of Bulawayo's ...Published: 24 Jul 2023 at 06:41hrs | 1 | by Staff reporter
Exodus continues as Zimbabwean economy lies in ruins ahead of elections
Soaring inflation and collapsing ‘bond notes' are forcing more and more qualified people and professionals to flee the country.Zimbabwe's poor economic performance and depreciation of the su...Published: 03 Jul 2023 at 07:02hrs | 11 | by Staff reporter
Biti tells Guvamatanga to 'shut up'
FORMER finance minister, Tendai Biti, has told off current treasury permanent secretary, George Guvamatanga, after he claimed civil servants are better paid now that they were during the government of...Published: 28 Jun 2022 at 07:32hrs | 1 | by Staff reporter
Guvamatanga challenges claim Biti paid civil servants US$540 during GNU
FINANCE Ministry's permanent secretary, George Guvamatanga on Monday said current salaries being earned by the country's civil servants are much higher than the US$540 awarded at the peak of the dolla...Published: 28 Jun 2022 at 07:28hrs | 11 | by Staff reporter
Dollar o'clock: Should Zimbabwe axe its faltering currency again?
IN early 2019, Zimbabwe's central bank announced plans to bring back the Zimbabwe dollar as legal tender after a decade of using the US dollar and seven other international currencies because raging h...Published: 11 May 2022 at 09:11hrs | 1 | by Staff reporter
Temba Mliswa calls for return of the US Dollar
Norton Member of Parliament Temba Mliswa says the introduction of the United States Dollar as a single currency is the best salvation to the revival of Zimbabwe's economy. In a Twitter thread ...Published: 26 Apr 2022 at 10:24hrs | 6 | by Mandla Ndlovu
Mnangagwa's growing love for rule-by-decree
President Emmerson Mnangagwa has been increasingly making use of Statutory Instruments (SI units) during his tenure as head of State. Analysts are describing it as a form of command politics steering ...Published: 02 Sep 2021 at 06:16hrs | 14 | by Staff reporter
Forex auction system has failed, claims Mashakada
THE forex auction system introduced by the Reserve Bank of Zimbabwe in June this year to contain the black market and stabilise the economy has been a major failure and will not achieve targeted resul...Published: 28 Aug 2020 at 19:37hrs | 3 | by Staff reporter
Forex auction system has failed: Mashakada
THE forex auction system introduced by the Reserve Bank of Zimbabwe in June this year to contain the black market and stabilise the economy has been a major failure and will not achieve targeted resul...Published: 27 Aug 2020 at 07:34hrs | 1 | by Staff reporter
The real reason why Civil Servants are being neglected!
The standard of living for the generality of the people of Zimbabwe has worsened and the ordinary citizen now survives on less than US0.35 cents per day. The Government of Zimbabwe is however reluctan...Published: 28 Jul 2019 at 09:29hrs | 1 | by Pongo
Forex black market struggles
FOREIGN currency trades on the interbank market have greatly improved as people shun the risky black market, Reserve Bank of Zimbabwe governor Dr John Mangudya said.The trades are also expecte...Published: 28 Jul 2019 at 09:08hrs | | by Staff reporter
Zimdollar return: Beware the cobra effect
Last month, the government took all and sundry by surprise when it banned the use of multi-currencies in all local transactions and reintroduced the Zimdollar; abandoned due hyperinflation in 2009....Published: 24 Jul 2019 at 08:24hrs | 2 | by Cliff Chiduku
Zimbabwe grapples with US$85m SAA debt
ZIMBABWE owes South African Airways (SAA) over US$85 million (R1,1 billion) in unrepatriated revenue from ticket sales as the country continues to grapple with biting foreign currency shortages amid g...Published: 19 Jul 2019 at 07:49hrs | 1 | by Staff reporter
Zimbabwe dollar strengthens in parallel market
For Zimbabwe President Emmerson Mnangagwa, the re-introduction of the country's currency after a decade of US dollar dominance marks a return to normalcy.To many others, however, it heralded u...Published: 06 Jul 2019 at 10:32hrs | 3 | by The East African
Zimdollar return: Financial engineering not the answer
If the Reserve Bank of Zimbabwe (RBZ) was a ship it would be the Titanic, sailing with the patronage of a well-heeled elite with privileged access to the life boats towards a deadly iceberg.Th...Published: 30 Jun 2019 at 09:04hrs | 3 | by Sipho Malunga
Currency reforms restore country's sovereign dignity
The Transitional Stabilisation Programme (TSP) has laid the foundation for fiscal consolidation at the same time generating sustainable budget methods. So far, the implementation of the TSP ha...Published: 30 Jun 2019 at 09:03hrs | 3 | by Richard Mahomva
US$ as deity in Zimbabwe
THE Zimbabwean government recently did the unfathomable, at least according to social media pundits, some civil society organisations, unions and influential urbanites. It arbitrarily and abruptly re-...Published: 28 Jun 2019 at 06:22hrs | 1 | by Takura Zhangazha
Tajamuka gives Mnangagwa 7 day ultimatum
FIREBRAND pressure group Tajamuka/Sesijikile has given President Emmerson Mnangagwa a seven-day ultimatum to fix the current crippling financial crisis short of which they will call for a national shu...Published: 26 Jun 2019 at 07:22hrs | 1 | by newzimbabwe
10 Implications of de-dollarization and introduction of the Zim dollar
Wheels have finally come off as government has been cornered and forced to involuntarily de-dollarize without a plan.When government introduced bond notes we warned that the surrogate currency was bad...Published: 24 Jun 2019 at 21:01hrs | | by Tapiwa Mashakada and Miriam Mushayi
Ngarivhume calls for a hunger strike against ED
In a first of its kind, the Transform Zimbabwe (TZ) leader has called for a hunger strike and picketing at Parliament against the ZANU PF government. This follows a meeting that was held yesterday in ...Published: 17 Jun 2019 at 12:01hrs | 2 | by Fungai Taruvinga
SA set tough conditions for Zimbabwe to join Rand Monetary Union
PRESIDENT Emmerson Mnangagwa has revealed that neighbouring South Africa imposed "unacceptable" conditions for Zimbabwe to join the Rand Monetary Union.In a live interview with a State control...Published: 15 Jun 2019 at 09:45hrs | 2 | by Staff reporter
An economy cannot be managed by propaganda
AN economy cannot be managed through propaganda. Back in high school, the term "propaganda"used to tickle us as students of history.The famed Oxford Dictionary defines propaganda as informatio...Published: 11 Jun 2019 at 07:13hrs | 2 | by Learnmore Zuze
Nurses demand salary 'adjustment'
THE Zimbabwe Nurses' Association (Zina), which declared a deadlock with government over salaries, has issued a 14-day notice to the Health Services Board (HSB) for industrial action. It says its membe...Published: 28 May 2019 at 07:58hrs | | by Staff reporter
SA sets tough terms on US$1.2bn Zimbabwe loan request
Zimbabwe's debt-ridden government is in a dilemma after South Africa asked her northern neighbour to securitise mineral proceeds in exchange for a US$1,2 billion (R17billion) bailout package, it...Published: 16 May 2019 at 07:21hrs | | by Staff reporter
Mystery over Mangudya's new contract'
The fate of Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's stay in office remains a mystery after his first term lapsed on Tuesday amid indications that government is yet to extend his contra...Published: 02 May 2019 at 11:13hrs | 10 | by Staff reporter
RBZ ordered to name, shame forex dealers
Government has tasked the central bank to reveal individuals and companies that were allocated foreign currency at par with the country's surrogate currency from October last year to February this yea...Published: 02 May 2019 at 07:34hrs | 3 | by Staff reporter
The nexus between confidence and economic growth
A change in the Zimbabwean government in November 2017 was somewhat a confidence booster in the economy as the new administration announced business oriented policies and went on an overdrive to re-en...Published: 29 Apr 2019 at 08:45hrs | | by Victor Bhoroma
Rebirth of the Zimdollar
Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-...Published: 19 Apr 2019 at 11:09hrs | 2 | by Paddington Masamha
Government to introduce a new currency called E-Zollar by September?
In a pretexted bid to bring an end to the nation's perennial nightmarish currency woes, government is allegedly working on a secret plan to introduce a digital Zimbabwe dollar, as soon as a new curren...Published: 29 Mar 2019 at 09:00hrs | 14 | by Spotlight
Situation in Zimbabwe hospitals a damning indictment on government
A signature characteristic of former President Robert Mugabe (pictured)'s administration was silence in the face of crippling crises. Zimbabweans, at the height of Mugabe's rule, had become resigned t...Published: 18 Mar 2019 at 06:48hrs | 1 | by Learnmore Zuze
Mthuli Ncube to defend RTGS dollar
THE local surrogate currency formally known as Bond Note and recently christened the RTGS dollar is legal tender whether citizens like it or not, Finance Minister Mthuli Ncube said Thursday.Nc...Published: 15 Mar 2019 at 05:49hrs | | by newzimbabwe
Car duty still in forex: Zimra
DUTY on imported cars will not be affected by the recent devaluing and renaming of the surrogate currency, because all imports are cleared in hard currency, the Zimbabwe Revenue Authority (Zimra) has ...Published: 05 Mar 2019 at 07:26hrs | 1 | by Staff reporter
Mangudya turn tables on Biti
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliamenta...Published: 05 Mar 2019 at 07:13hrs | | by Staff reporter
Panonetsa Mangudya humbles Biti
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliam...Published: 05 Mar 2019 at 07:10hrs | | by Staff reporter
Zimbabwe inflation hits 266%
International economist and currency expert Steve Hanke says Zimbabwe's inflation now sits at 266 percent following the Reserve Bank of Zimbabwe's recently-announced monetary policy.Just two w...Published: 04 Mar 2019 at 11:57hrs | | by Staff reporter
Mangudya pressed wrong button, says MDC Alliance shadow minister
Reserve Bank of Zimbabwe governor John Mangudya's keenly awaited monetary policy statement (MPS) delivered last Wednesday has sparked debate amid fears that the floating of the exchange rate will spar...Published: 24 Feb 2019 at 06:50hrs | 8 | by Staff reporter
Zimbabwe financial markets serene after RBZ's monetary policy measures
MARKETS largely remained unperturbed following monetary policy measures announced this week that saw the central bank abandon its fixed exchange rate management system for a managed floating approach ...Published: 22 Feb 2019 at 09:09hrs | | by Staff reporter
MDC slams RBZ currency moves
Zimbabwe has "de-dollarised through the back door," the Movement for Democratic Change (MDC) said on Wednesday after the Reserve Bank of Zimbabwe unveiled its delayed Monetary Policy Statement....Published: 21 Feb 2019 at 20:56hrs | 4 | by ZimLive
Price drop expected after exchange rate liberalisation
PRICES of most goods and services are expected to decline or stabilise in the short to medium term following the freeing up of the exchange rate, after the Reserve Bank of Zimbabwe floated the rate be...Published: 20 Feb 2019 at 22:39hrs | | by Staff reporter
It's squeaky bum time for unsung Mangudya
Like many Manchester United fans around the world missing the good old days, I also regularly find myself reminiscing about the managerial prowess of Sir Alex Ferguson, whose inimitable success at one...Published: 19 Feb 2019 at 17:13hrs | | by Guthrie Munyuki
Mangudya walks out of meeting with Mthuli Ncube
THERE was high drama after Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, in a fit of rage, tossed paper files at Finance minister Mthuli Ncube and walked out of a meeting, angrily slamming th...Published: 15 Feb 2019 at 15:37hrs | | 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 | 10 | by Staff reporter
Mthuli Ncube shoots down Biti's fear mongering attempt
FORMER Finance minister Tendai Biti yesterday sensationally claimed that government was planning to reintroduce a local currency this week, describing the purported move as "pure undiluted insanity"....Published: 12 Feb 2019 at 07:32hrs | 2 | by Staff reporter
Air Zimbabwe moves in to curb arbitrage
Financially-troubled national airline Air Zimbabwe (AirZim) has instructed its travel agents to start charging in foreign currency for passengers flying into the country as the company seeks to turnar...Published: 01 Feb 2019 at 15:24hrs | | by Staff reporter
'Zimbabwe inflation second only to Venezuela '
ZIMBABWE'S inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80,000 percent at the end of 2018), United States economist and currency expert Steve Hank...Published: 28 Jan 2019 at 10:57hrs | 1 | by African News Agency
What does the future have in store for me as a tobacco farmer or mukorokoza?
Having been a tobacco farmer for the last three years and my young brother being an artisinal gold miner, mukorokoza for a longtime we have nothing to show from our exploits except that we are wallowi...Published: 28 Jan 2019 at 07:27hrs | 1 | by Henry Madiro
RwandAir dumps bond notes
RWANDAN flag carrier, RwandAir has abandoned receipt of unstable bond notes and RTGS payment systems amid the continued rejection of Zimbabwe's much resented currency.In a letter addressed to ...Published: 27 Jan 2019 at 19:07hrs | | by newzimbabwe.com
'Dump bond notes'
Zimbabwe should dump its discredited bond notes and real time gross settlement (RTGS) system and re-introduce the United States dollar as a way of solving the country's fragile currency situation and ...Published: 22 Jan 2019 at 16:08hrs | 1 | by STaff reporter
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