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Zimbabwe: Adopt Rand Now, Govt Told
Financial Gazette, 5 April 2018
Zimbabwe should adopt the South African rand as its official currency on an interim basis as a way of stabilising the economy, deputy Finance Minister Terrence Mukupe has said. Read more »
Calls For Zimbabwe to Adopt South African Rand Grow Louder
Despite intense lobbying by industrialists, economists and the business community over the years, officials in Zimbabwe have rejected the call to adopt the rand as its official currency - but now Deputy Minister of Finance and Economic Planning, Terrence Mukupe agrees with the call. The country has had continued cash shortages which local bond notes have failed to address. Introduced in Zimbabwe in November, bond notes have equal value to the widely-used U.S. dollar but are still in short supply at the banks.
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Zimbabwe: Cash Crisis - ATMs Gather Dust
Zimbabwe Independent, 9 March 2018
The severe cash shortage brought about by a debilitating liquidity crunch has severely reduced the use of automated teller machines (ATMs). Read more »
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Zimbabwe: Monetary Policy - the Persistent Cash Crisis and Absence of Fresh Thinking
The Source, 12 February 2018
The monetary policy statement (MPS) predicated on the fiction that the local bond note currency is worth the same as the international dollar must be interpreted with due… Read more »
InFocus
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The government had previously denied that it was printing its own money in order to pay the civil service. Read more »
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President Emmerson Mnangagwa has offered a three-month amnesty for individuals and companies to surrender money and assets illegally stashed abroad. Mnangagwa says the government ... Read more »
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Zimbabwe is more than doubling its issuance of bond notes, a domestic quasi-currency, to U.S.$500 million, the Central Bank Governor John Mangudya has said, stoking fears of a ... Read more »
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Government advisor Ashok Chakravarti has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars ... Read more »
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The central bank has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars forced the government to ... Read more »
