November 18, 2024
CONFIDENCE in the banking sector is set to increase in 2015 at the back of various initiatives the Reserve bank of Zimbabwe is considering in a bid to restore stability in the sector, John Mangudya said. Mangudya said the central bank has earmarked 2015 for development and transformation…
THE long overdue demonetisation of the now defunct Zimbabwe dollar, which the government attempted early this year, is still outstanding, a cabinet minister has revealed. Demonetisation refers to the act of withdrawing a currency from further use and stripping its status as legal tender. That is necessary when…
THE dumping of the local currency in 2009 in favour of the multicurrency regime was bittersweet in that it halted hyperinflation but at the same time created a liquidity crunch in the economy. It is worth noting that our dollarisation was endogenous as economic agents rejected the local…
With the economic crisis getting deeper and deeper, and liquidity woes reaching a crescendo, it is natural that cries for an arrest of the situation and the commencement of some sort of recovery in the economy have become loud. Were it not for the fact that the opposition…
A LIBERAL think tank has predicted a hard landing for the Zimbabwe dollar if government reintroduces the embattled currency. Zimbabwe remains significantly unprepared for the return of the ditched currency, at least in the short-term, says the think tank. Anything contrary to this will be political grandstanding that…
ZIMBABWE’S banking sector has been hit with massive withdrawals by risk-loathing depositors over the past five months, with banking sector sources indicating that reports of a return of the domestic currency have further unsettled bank customers. The Zimbabwe dollar was banished from circulation in 2009 to stem a hyperinflationary crisis…