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Home » Local firms decry forex liquidation
Companies & Markets

Local firms decry forex liquidation

written by Almot Maqolo, Staff Writer 0 comments
“Once the debt continues to increase, it confirms to potential investors that their money will be trapped in Zimbabwe, and that the government does not have capacity to honour its obligations,”
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THERE is growing disquiet among local companies over the 30 percent liquidation of foreign earnings into local currency balances at the official rate by the Reserve Bank of Zimbabwe (RBZ) which according to insiders, is gravely threatening export business viability.This comes as local companies are already stretched for foreign currency to adequately cover supplier and…

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