Foreign currency loans dominate banks’ books

To meet the 2030 target, authorities must take deliberate steps to restore faith in the ZiG and create conditions conducive to a sustainable mono-currency system.

ZIMBABWE’s banking sector is heavily invested in foreign currency-denominated loans, which account for 88,88 percent of total loans and advances, reaching ZiG27,45 billion by mid-2024, according to recent data.Advertisements The Reserve Bank of Zimbabwe (RBZ) Banking Sector Industry Report for the quarter ending June 30, 2024, states that banks have remained committed to funding productive…

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