Zimbabwe acquired US$1.4 billion loans from Afreximbank since 2017

Finance Minister, Professor Mthuli Ncube has disclosed that the Reserve Bank of Zimbabwe acquired three loans from Afreximbank since 2017 totaling a massive US$1.4 billion.

Finance Minister, Professor Mthuli Ncube has disclosed that the Reserve Bank of Zimbabwe acquired three loans from Afreximbank since 2017 totaling a massive US$1.4 billion.

Zimbabwe economy is expected to decline by a further 18% this year due to the covid-19 pandemic which has left many businesses worldwide stuck in uncertainty.

Finance minister Mthuli Ncube was on Wednesday grilled by Senate over the poor state of economy in Zimbabwe which has made life very tough for majority of ordinary citizens.

Zimbabwe's Finance minister Mthuli Ncube on Thursday projected that the country's economy will shrink by 4.5 percent in 2020 from 3 percent earlier projected due to the negative impact of COVID-19.

Prosecutor General Kumbirai Hodzi has been petitioned to charge finance minister Mthuli Ncube with criminal abuse of office over a series of actions that have caused Zimbabweans financial losses in the billions of dollars.

Finance minister Mthuli Ncube is today expected to present his 2019 Mid-Term Budget Review Statement, amid high expectations for measures to improve disposable incomes, boost production and protect the value of the local currency.

Members of the Zimbabwe National Defence Forces have allegedly issued sentiments protesting over the budget allocation given to the defence ministry.

HARARE - Finance minister Professor Mthuli Ncube has defended the payment of import duty in foreign currency in his 2019 national budget statement saying the measure was premised on the ability to pay principle.