Zimbabwe: Why Property Rights Matter for Zim's Economic Recovery

analysis

The current debate on payment modalities for tobacco farmers and the subsequent usage of the earned foreign currency by the farmers has brought to the fore the aspect of property rights in Zimbabwe.

On March 15 2019, the Reserve Bank of Zimbabwe (RBZ) and the Tobacco Industry and Marketing Board (TIMB) communicated that tobacco farmers will be paid 50% of their net earnings in foreign currency, while the remaining 50% will be paid in Real-Time Gross Settlement (RTGS) dollars at a rate of RTGS $0,50/kg delivered up to RTGS $300.

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