Individuals with Nostro foreign currency accounts (FCAs) in Zimbabwe are failing to withdraw US dollars from banks, a development which undermines public confidence and trust in the financial system.
FCA holders with Zimbabwean banks have expressed apprehension over what they fear could lead to a raid on their funds by the government.Forex availability has been a problem in the country, whose productive sectors continue to encounter headwinds amid a Covid-19 pandemic, a huge import bill for fuel, medicines and raw materials for industry.
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