Page 10 - கூட்டமைப்பு ஆஃப் ஸிஂபாப்வே தொழில்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Zimbabwe s delicate trade/industry balance – The Zimbabwe Mail
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Industry bemoans high cost capital
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Domestic resource mobilisation key for Zimbabwe – AfDB
Senior Business Reporter
Boosting domestic resource mobilisation is critical for Zimbabwe’s economy going forward as external financing for the country is likely to remain clogged, the African Development Bank (AfDB) has said.
Official data shows that the country’s total public debt stands at US$11,1 billion, approximately 53,9 percent of gross domestic product (GDP).
And of that total, 95,6 percent is external, which includes $6,4 billion in arrears to international financial institutions, bilateral, and private creditors.
“Zimbabwe has been in default since 2000. A Staff Monitored Programme with the International Monetary Fund to help Zimbabwe implement economic policies from May 2019 to March 2020 ended in September 2019.
Calls for zumbani further research
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Zim industries begin regaining footing
Zimbabwe’s economic story is a tale of many turns.
Even economists and critics like US-based Johns Hopkins Professor Steve Hanke have tripped over their own projections countless times.
While the odds were heavily staked against local industry, especially with the coronavirus pandemic that was largely expected to weigh on the local economy, the manufacturing’s sector has been performing better than expected.
Local products now occupy about half of supermarket shop-shelves.
On March 12, President Mnangagwa tweeted: “In 2017, 5 percent of stock in Zimbabwe’s supermarkets was locally manufactured. Today, 45 percent of our supermarket supplies are proudly made in Zimbabwe. The worst of our economic woes are now behind us. Zimbabwe shall rise once again!”