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Zimbabwe: All Debts Incurred Before 22 Feb 2019 to Be Paid Using 1-1 Rate - Supreme Court
New Zimbabwe, 21 January 2020
The Supreme Court Tuesday ruled that all debts incurred before 22 February 2019 be settled using the Zimbabwe on US$1 to Z$1. basis. Read more »
Banks Biggest Losers in Zimbabwe's Ruling on U.S. Dollar Debts
Zimbabwean banks are set to lose millions after the Supreme Court ruled that debts incurred before February 2019 should be settled in the local currency at a rate on par with the greenback. This gives a reprieve to debtors who have access to the U.S. dollar, who will now simply convert their foreign currency to the local currency and pay less than what they would have paid had it not been for the ruling.
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