Zimbabwe’s inflation rate hit 131.7% in May, rise attributed to war in Ukraine
Zimbabwe's inflation rate hit 131.7% in May, the statistics office said on Wednesday, as the aftermath of war in Ukraine hit an already struggling economy.
John Mangudya
RBZ takes war to companies over ‘manipulation of currency’ through borrowing
The Reserve Bank of Zimbabwe (RBZ) has uncovered a sophisticated practice by some of the country's biggest corporations unethically borrowing large sums of money from banks.
Mnangagwa announces measures to curb exchange rate crisis
President Emmerson Mnangagwa announced several measures to halt the rapid decline of the local currency on Saturday evening but claimed Zimbabwe was under attack from economic hitmen.
RBZ suspends money transfer service InnBucks
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has announced the suspension of money transfer service provider InnBucks owned by Simbisa Brands for operating 'illegally'.
Zimbabwe introduces $100 bank note amid soaring inflation
The Reserve Bank of Zimbabwe (RBZ) will introduce a new 100 ZWL note following the issuance of Statutory Instrument 68A by the Minister of Finance and Economic Development in 2022.
Businesses Refusing Zimdollar Face Arrest
HARARE – Zimbabwe will not adopt the United States dollar as the country’s sole currency, but will work to progressively defend the value of the local unit, while businesses that refuse to accept the Zimbabwe dollar risk arrest, Finance and Economic Development Minister, Professor Mthuli Ncube, has said.
Central Bank Approves Black Market Rates
Retailers can continue to use parallel market exchange rates, Reserve Bank of Zimbabwe governor John Mangudya said in a statement issued on Monday.
Zimbabwe reviews inflation projections
Zimbabwe's annual inflation may breach the upper cap of 25 percent target in 2021 on surging global commodity markets, supply disruptions, stimulus interventions and currencies depreciation induced by the coronavirus pandemic.
Zim external debt rise to US$17bn
The country is in debt-distress as it closed the year 2020 owing to its external creditors as much as US$10,523 billion in Public and Publicly Guaranteed debt with more expected to be loaded on the total bill, Business Weekly revealed in a report.
Zimbabwe names new Monetary Policy Committee
Zimbabwe's Finance and Economic Development Minister, Professor Mthuli Ncube on Sunday appointed five new members to Reserve Bank of Zimbabwe Monetary Policy Committee (MPC).
