Equity Axis News Today

THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves ...

THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves to support the local unit, an independent advisory has said. Finance minister Mthuli Ncube recently hinted on currency reforms that will see the exchange rate linked to a hard asset as part…

 Assuming a new currency comes in the picture as speculated, confidence levels will also weigh on sentiment and equally plunge the market.

A currency board is the effective pegging of a country’s currency against that of another. It is put into effect through the holding of the later currency as reserves.

It is the reason why most of the country’s leading corporations have been relying on internally generated inflation data to make decisions.

It has always been, but there has been no political will to address the concerns that it has raised.

ZIMBABWES annual inflation could be over 20 times higher than the official rate of 34,8%, an independent advisory estimated this week, as it gave glimpses into...

ZIMBABWE'S annual inflation could be over 20 times higher than the official rate of 34,8%, an independent advisory estimated this week, as it gave glimpses into fundamentals behind deeper turbulence currently confronting the economy. Harare-based Equity Axis' estimates, released recently, were among a few bold assessments of the economy's health since the government shifted from…

ZIMBABWES annual inflation could be over 20 times higher than the official rate of 34,8%, an independent advisory estimated this week, as it gave glimpses into...

Without decisive action, the country risks further economic deterioration and social unrest given a looming drought which is poised to further weigh down on the economy in the country and the region.