The U.S. dollar has been spontaneously adopted by the country's producers and retailers, according to the Zimbabwe Independent. This comes after the economy went into meltdown in recent weeks with prices of basic commodities reaching new highs due to rampant inflation. Finance Minister Mthuli Ncube Ncube argued that Zimbabwe could not adopt the U.S. dollar because some banks refused to supply the country with the Greenback over fear of reprisals by the U.S. government.
Zim Now in Defacto Dollarisation
Zimbabwe Independent, 31 May 2019
THE persistent price volatility in the economy has left producers and retailers in Zimbabwe with very limited options apart from indexing their products in the US dollar or pegging… Read more »
Zim's Perpetual Struggle With Forex Black Market
AS Zimbabwe continues battling a boisterous foreign currency black market, there are strong signs that a parallel goods markets will soon emerge. Read more »
U.S. dollars (file photo).
President Courts Private Sector
The Herald, 31 May 2019
Zimbabwe and Tanzania should encourage players from the private sector to take advantage of investment opportunities in the two countries and actively participate in economic… Read more »
Opposition's Biti, Finance Minister in Battle of Wits Over Failing Economy
New Zimbabwe, 30 May 2019
PARLIAMENTARIANS on Wednesday, were treated to a battle of wits between Finance Minister Mthuli Ncube and former Treasury chief Tendai Biti over the state of the economy. Read more »
Resettled Farmers Hawking Cigarettes to Survive
IPS, 28 May 2019
For subsistence farmer Rogers Hove - who proudly brandishes a worn out letter for his five hectare piece of land he obtained from government following the chaotic land seizures… Read more »
President Emmerson Mnangagwa says Zimbabwe will undergo a "painful" reform process to achieve transformation and modernisation of the economy. In an article published in the ... Read more »
President Emmerson Mnangagwa will use his two-day state visit to Guinea as a launch pad to appeal for African support in Zimbabwe's efforts to re-engage the West so that economic ... Read more »
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