Page 37 - Mutoko News Today

The Bishop of Oxford aims to “give new hope” to people around the world who are facing conflict and the climate crisis by taking part in a…

The measure, the lifting of which was announced by Reserve Bank of Zimbabwe Governor John Mangudya on Tuesday, has had little impact on the exchange rate.

HARARE (Bloomberg) -- Zimbabwe lifted a 10-day ban on bank lending as critics warned that the government has shattered confidence in the already stagnant economy. While the ban was announced by President Emmerson Mnangagwa in a bid to halt the runaway depreciation of the Zimbabwe dollar it quickly chilled economic activity, with agri-processing companies including…

Inflation pushed to 96%.

Households’ struggles to afford food were compounded when the Grain Millers Association of Zimbabwe hiked prices for wheat flour and the staple maize meal by about 15% in March, citing surging global prices linked to the Ukraine war. The FAO says that Zimbabwe imports the bulk of its wheat from the Black Sea and Baltic regions, with Russia and Ukraine accounting for nearly one-fifth of imports last year.

Zimbabwean security guard Edwin Dapi was already struggling to provide for his wife and four children before a conflict 11 000 km away in Ukraine sent global prices for grains, cooking oils, fuel and fertilizer soaring. Now his monthly pay of 18 000 Zimbabwe dollars, worth roughly $55 at the black market rate used at many informal markets, is stretched to breaking point.

HARARE — Zimbabwean security guard Edwin Dapi was already struggling to provide for his wife and four children before a conflict 11,000 km (6,800 miles) away…

Kenya, East Africa's biggest economy, was shielded from early impacts because millers there had turned to other suppliers after Russia increased taxes on its wheat exports last year.

Mnangagwa imposed capital controls and ordered banks to suspend lending to government and the private sector with immediate effect, in a televised address on Saturday.

HARARE (Bloomberg) -- Banks in Zimbabwe will meet with authorities on Monday to get clarity on a weekend order given by President Emmerson Mnangagwa that they must halt lending that he blamed for fueling a currency crisis. Mnangagwa imposed capital controls and ordered banks to suspend lending to government and the private sector with immediate…