Zimbabwe’s economic instability is deepening, deterring international investment and eroding confidence in the local market.
They accuse Ecocash of fueling activities on the “illegal” foreign currency black market. Ecocash is also accused of running a Ponzi scheme. Somehow, Ecocash has become Zimbabwe economy’s bogeyman. The designation of Zimswitch as the payments switch for all financial services providers appea...
a member of the Commonwealth until 2003, when it withdrew as a result of conflict with other members. Official language: English. Religion: Christian majority. Currency: Zimbabwe dollar. Capital: Harare. Pop: 13 182 908 (2013 est). Area: 390 624 sq km (150 820 sq miles). Former names:...
a pan-African bank that is mulling a $500m loan. Zimbabwe has also borrowed $250m from Gemcorp, a London-based investment fund. Not only are the terms of these loans murky, but they do not address the causes of the currency crisis—a lack of trust in a government that keeps ruining...
Zimbabwe’s new currency, which began trading on 8 April, is backed by gold valued at $285m – less than two weeks’ import cover and a twelfth of the SADC’s recommendation for liquidity.
Monetary policy in Zimbabwe saw the value of the nation’s coinage drop to virtually nothing as their unit of currency, the Zimbabwe dollar, went from being worth more then a United States dollar in 1980 to one United States dollar being worth over $300,000,000,000,000 (300 trillion) Zim...
GOVERNMENT is still working on a new currency that will be introduced into the market, a Cabinet Minister said Wednesday.Acting Finance Minister Sithembiso Nyon...
Business Warns Early Return to Mono-Currency Undermines ZiG December 9, 20240 Agriculture & Enviroment Strong Earthquake Strikes Near Kariba, Zimbabwe December 23, 20240 HARARE, Zimbabwe – A magnitude 4.9 earthquake struck 17 km southeast of Kariba in Mashonaland West Province early Monday, December...
Zimbabwe has started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people.
the government of Zimbabwe also introduced a batch of bond notes as a form of alternative currency, with a bond note having an exchange rate of 1:1 with the U.S. dollar.