In June 2019, the Reserve Bank of Zimbabwe suspended the multiple currency system and replaced it with a new Zimbabwe dollar known as the RTGS dollar. It was based on the success of the 2016 U.S. dollar-linked notes. In 2020, however, the multiple currency system was reinstated.9 Accordin...
The International Monetary Fund, which in February urged the liberalization of the exchange rate, said it will support authorities latest efforts to restore macroeconomic stability. But the Washington-based lender said it needed time to review the design and implications of the new currency arrangement...
HARARE, Feb. 8 (Xinhua) -- Zimbabwe's leading gold producer RioZim has once again suspended operations at its three mines following failure by the Reserve Bank of Zimbabwe (RBZ) to allow producers to maintain 55 percent of their foreign currency earnings in their nostro accounts as per promise...
Zimbabwe has introduced a new national currency aimed at stabilizing the economy and countering the devaluation of the local dollar in the southern African nation. Harare has also appealed to the United Nations for $2 billion in aid to help with food insecurity. The 'structured currency' - Zim...
President Emmerson Mnangagwa has proclaimed that Zimbabwe is “open for business.” This refrain rings hollow in the face of Zimbabwe’s exchange controls and its new currency, the RTGS dollar. If Zimbabwe wants to be open for business and wants its own sound currency, it should adopt a curre...
Industry must also adopt viable policies and business strategies that foster export-led growth, he added. He said to ease foreign currency and liquidity challenges bedeviling the country, industry and commerce should be export oriented.
HARARE (Reuters) - Zimbabwe’s new Finance Minister Mthuli Ncube may scrap the quasi currency bond note and
Zimbabwe has started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people.
The joint venture is projected to create 5,000 jobs directly and indirectly and generate 1.3 million U.S. dollars in Value Added Tax and other tax revenues in 2017, while future exports will also generate the much needed foreign currency. ...
Once-prosperous Zimbabwe has sunk into economic crisis over the years, with a cash crunch so severe that livestock in some cases is being accepted in lieu of currency. Unemployment is high, and the health and social services system has suffered. Chopra, who stars in the upcoming "B...