Will U.S.$1.5 Billion Facility End Zimbabwe's Cash Crisis?
The shortage of cash is still a reality in Zimbabwe even after President Emmerson Mnangagwa came to power in November 2017. Every measure put in place by the Reserve Bank of Zimbabwe, including the controversial bond notes has failed to stem the crisis - but now Mnangagwa says the Central Bank, working with the Africa Export Bank, has put in place a U.S.$1.5 billion facility earmarked for both liquidity support and provision of guarantees for investments.
New Zimbabwe, 18 April 2018
President Emmerson Mnangagwa, who assumed power in a military coup last November, has admitted the cash crisis in the country is causing great hardships for ordinary Zimbabweans. Read more »
New Zimbabwe, 16 April 2018
FINANCE and Economic Development Deputy Minister Terrence Mukupe says former treasury chief Tendai Biti was partly to blame for the country’s recurrent cash crisis. Read more »
New Zimbabwe, 27 February 2018
Finance Minister Patrick Chinamasa has conceded the country's recurrent cash crisis would not go away anytime soon adding that locals still did not trust the formal banking… Read more »
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 ... Read more »
Chinese President Xi Jinping has told President Emmerson Mnangagwa that they should work towards a new chapter in ties, during the Zimbabwe leader's first state visit to China ... Read more »