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RBZ

Alarm as govt mulls Z$ return

There is widespread panic among both businesses and ordinary Zimbabweans alike, after President Robert Mugabe’s ever-floundering government ill-advisedly announced last Tuesday that it was working on “a plan” to use gold reserves to anchor…

Stressed Zim cries for rands

With the current acute cash crisis worsening by the day, experts have made renewed calls for the country to adopt the South African rand as Zimbabwe’s anchor currency, to stem an impending economic implosion.

RBZ bails out mines from tobacco sales

By Shame Makoshori Payments to mining industry’s foreign suppliers have improved since the tobacco marketing season kicked off in February, according to industry sources. This comes after the sector lurched into crisis due to failure to pay…

Bread prices to remain unchanged

By Conrad Mwanawashe A breakthrough has been reached between millers and the Reserve Bank of Zimbabwe which effectively quashed a looming increase in the price of bread and other flour products. The RBZ will, in the next few weeks, clear…

Ex-minister Moyo slams bond notes

By Tendai Kamhungira Former Industry and International Trade minister Nkosana Moyo has slammed bond notes, arguing the surrogate currency is “not the answer” to the country’s deepening cash crisis. The bond notes — valued at par with the…

Zim needs $600m cash: RBZ

By Ndakaziva Majaka Zimbabwe needs about $600 million in cash to achieve optimal liquidity ratios, a central bank official said. Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo last week said while the central bank was only…

Cash barons rescue Zimbabwe firms

By Nyasha Chingono Troubled Zimbabwean firms failing to make payments to foreign suppliers are scurrying to middlemen offering to liquidate the distressed firms’ foreign commitments due to a worsening foreign currency crisis, the Financial…