Zimbabwe
Zimbabwe's retailers reject new travellers cheques
After the introduction of new travellers' cheques in Zimbabwe to ease the cash crisis, reports say some retailers are turning away customers who have the cheques, according to All Africa News.
Zimbabwe gov't bans cash 'hoarding'
Zimbabwe's President Robert Mugabe passed a law last week banning the hoarding of bank notes, according to a report by Reuters. The law bypassed parliament and one economist said he was "mystified" about how it would be applied.
Major shake-up looming at Reserve Bank of Zimbabwe
The cash crisis in Zimbabwe is likely to result in a reshuffle in the next few weeks at the country's central bank, according to a report by the Zimbabwe Independent. It is understood the shake-up comes with the full blessing of President Robert Mugabe…
Travellers cheques to ease Zimbabwe cash crisis
The Reserve Bank of Zimbabwe will launch a range of travellers cheques on Friday 8 August,according to Sapa-AP. The move comes amid Zimbabwe's acute cash shortage. Similar to bank notes, the travellers' cheques are printed on security paper with fibres…
Zimbabwe to abolish notes to ease cash shortage
The Zimbabwean government plans to withdraw the Z$500 note from circulation within 60 days, reports Sapa-AFP. The note will become worthless after this time providing a strong incentive for people to deposit in banks cash they are hoarding.
Zimbabwe cash crisis deepens
Zimbabwe's opposition leaders have called the country's bank note crisis "an emergency of the highest order" as riot police control bank queues, according to a report by Sapa AFP. Many banks are now limiting cash withdrawals to 5 000 Zimbabwe dollars as…
Cash shortage still grips Zimbabwe
The Reserve Bank of Zimbabwe is printing over R218 million worth of cash to inject in the market and counter the current shortages, SABC News reported. ATM machines are empty in the country and the note printing is unlikely to help inflation currently…
Split may be developing over choice of RBZ chief
A split is emerging in Robert Mugabe's government over who should succeed outgoing reserve bank governor Leonard Tsumba at the Reserve Bank of Zimbabwe (RBZ). The Financial Gazette reports a number of camps have emerged within Mugabe's top leadership on…
Chikaura set to take over as RBZ governor
The acting governor of the Reserve Bank of Zimbabwe (RBZ), Charles Chikaura, may take over as a permanent replacement to Leonard Tsumba who resigned last week amid the country's bank note crisis. The Daily News reported that candidates from the private…
Zimbabwe's central bank chief resigns
Zimbabwe's central bank governor, Leonard Tsumba, has gone on leave with immediate effect. He planned to retire at the end of July but reports say he stepped down after criticism over the bank note shortage Zimbabwe currently faces, according to AFP.
RBZ to introduce new capital mandatory for banks
The Reserve Bank of Zimbabwe intends to introduce a new capital regime for the banking sector which will relate a particular bank's risk profile to what authorities will require of it in terms of safeguards, according to the Financial Gazette.
Zimbabwe bank notes crisis worsens
Tuesday May 27 saw a worsening of the bank note shortage in Zimbabwe, according to The Herald Online, with some banks running out of notes and long queues at ATM machines.
Zimbabwe's central bank raises gold sale price
Zimbabwe's central bank has raised the price paid to small scale gold producers by 114 percent following the abolition of the gold floor price support scheme, the Financial Gazette reports.
Shortage of notes threatens Zimbabwe's banks
Zimbabwe has been hit by a shortage of banknotes recently after currency restrictions made it difficult for the central bank to import special note paper, banking officials said. However, the central bank this week attributed the note shortages to the…
RBZ staff boycott canteen over food quantity
Tensions are rising at the Reserve Bank of Zimbabwe after complaints about the food served in the staff canteen, according to All Africa News. Angry workers have called for the caters to be replaced after food portions were cut prompting the majority of…
Fillip for Zimbabwean gold producers
New rules from the government mean Zimbabwean gold producers will receive the market price from the Reserve Bank for the gold they produce.
RBZ lacks autonomy, says economic analyst
An economic analyst for the Zimbabwe Economic Society has said that Zimbabwe's central bank lacks independence, with the governor appointed by the president and the government able to borrow money "willy-nilly" from the central bank.
A case for a Securities Exchange Commission
ARTICLE - This article says that to corporate governance buffs, the news that government is mulling the idea of setting up a Securities Exchange Commission in Zimbabwe is good news.
RBZ launches new payment system
ZIMBABWE - Starting on November 18, the Reserve Bank of Zimbabwe (RBZ) will introduce an electronic transfer and settlement system (ZETSS) that will link Zimbabwe's commercial banks in the movement of funds among participating banks using settlement…
Ex-tea boy heads for top RBZ post?
ZIMBABWE - Gideon Gono, the chief executive officer of the Commercial Bank of Zimbabwe (CBZ), looks set to become the governor of the central Reserve Bank of Zimbabwe (RBZ) shortly, it was established this week - says Zimbabwe's Financial Gazette.
President Mugabe hits out at devaluation advocates
ZIMBABWE - President Robert Mugabe publicly hit out at his Finance Minister Simba Makoni last week, branding him an economic saboteur. He also contradicted Reserve Bank of Zimbabwe governor Leonard Tsumba as cracks within the government widened.
Zimbabwe's parallel market a necessary evil - IMF
ZIMBABWE - The International Monetary Fund (IMF) says Zimbabwe's thriving parallel currency market must be tolerated in the absence of concrete government measures to stabilise the local dollar.
Zimbabwe to target money supply growth
ZIMBABWE - Concerted action aimed at curtailing monetary growth and increasing the output of goods and services in the economy is vital if a sustainable reduction in inflation to levels that promote investment and growth is to be achieved, warns the…
Zimbabwe's c bank calls for debt issue discussion
ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ), the country's central bank, has urged the government to intensify efforts to shift debt towards longer term securities to address the huge debt service burden, according to the Zimbabwe Inter-Africa News…