Zimbabwe’s forex receipts up 21%

Rising debt levels and projected double-digit declines in official development assistance have highlighted the dire need for action plans that will enable Africa to pay for its own development, the African Tax Administration Forum (Ataf) cautions.

THE country’s foreign currency receipts grew by 21 percent in 2024 reaching US$13,316 billion from US$11 billion received in 2023 thanks to strong exports, latest figures from the Reserve Bank of Zimbabwe show. Exports proceeds (59,2 percent), international remittances (16,2 percent) and loan proceeds (11,9 percent) dominated the foreign currency inflows. “The improved foreign currency…

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