Zimbabwe
Zimbabwe reneges on pledge to limit RBZ overdraft
The Zimbabwe government, caught between the need to reduce the cost of its domestic borrowings and its insatiable appetite for funds to fund its recurrent expenditure, plans to waive the 20 percent limit on its overdraft facility at the central bank as…
Zimbabwe says to lift forex directive on Feb 15
The Reserve Bank of Zimbabwe said on Feb 12, 2001 a directive to commercial banks to sell all foreign currency from clients' export earnings to the central bank or the state oil company would be lifted on Feb 15. "This directive has been issued as a…
Zimbabwe orders banks to remit forex to cenbank
The government of Zimbabwe has directed commercial banks to remit 75 percent of their foreign currency to the Reserve Bank of Zimbabwe until further notice, bank officials said on Feb 10."There was a directive yesterday to the effect that banks should…
Zimbabwe banks experience massive capital flight
Zimbabwe's banks, which for years have been the investor's first choice as they offered annual gains of up to 65 percent in interest, are now facing a massive capital flight to the equity market after cheaper funds made available by the Central Bank…
Zimbabwe inflation surges to 70%
Reserve Bank of Zimbabwe governor Leonard Tsumba said in Jan 2001 averageinflation is expected to rise to about 70 percent in 2001 from 55,7percent in 2000, further threatening the fragile economy.
Zimbabwe: Interest rates drop as inflation falls
This article is from Zimbabwe's Financial Gazette said that a surprise fall in Zimbabwe's inflation rate should be viewed a temporary. The subsequent reductions in interest rates by the central bank are therefore short-term, says the article.
IMF warns of deepening economic crisis in Zimbabwe
Zimbabwe faces a "deepening" economic crisis unless the government reverses its missteps of the past two years by cutting back on defense and public sector wages, the International Monetary Fund warned Wednesday.
RBZ To announce new monetary policy measures
The Reserve Bank of Zimbabwe governor, Leonard Tsumba, is expected to announce new monetary policy measures for the year 2001 by the end of this month, a central bank spokesman said this week.
Zimbabwe foreign payment arrears reach $488m
Zimbabwe's foreign payment arrears, a result of severe hard currency shortages, stood at $488m in November, according to statistics published by the Reserve Bank of Zimbabwe this week.