Zimbabwean governor says banks more stable
Reserve Bank of Zimbabwe moved to address credit risk and liquidity constraints
The stability of the banking sector in Zimbabwe has "significantly improved" according to central bank governor John Mangudya, who insisted the sector "remains safe and sound" in a statement on July 3.
He noted the Reserve Bank of Zimbabwe had taken action to address the high level of non-performing loans and liquidity constraints in the sector, including through the creation of the Zimbabwe Asset Management Corporation to help "cleanse" balance sheets.
"It is envisaged that the measures
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