The Reserve Bank of Zimbabwe said it drew down as much as $1,1 billion from nostro stabilisation facilities last year extended by the Afreximbank as it sought to stabilise the foreign exchange market.
This sustained the financing of critical imports such as fuel, electricity, medicines, fertilisers, cash imports and raw materials, RBZ governor John Mangudya said yesterday. Zimbabwe is facing a critical shortage of foreign currency as imports continue outweighing exports.
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