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.
Zimbabwe: RBZ in $2.5 Billion Winter Wheat Support
1 day ago
By Alois Vinga
THE Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee (MPC) has injected $2.5 billion towards the winter wheat farming season.
Deliberations made by the new MPC favoured maintaining the current stability, capping on lending interest rates and strengthening support towards Small to Medium Enterprises.
“As part of measures aimed at buttressing the current stability, the committee increased the amount of the Medium-term Bank Accommodation facility by an additional $2.5 billion to cater for the winter wheat planting programme,” RBZ governor, John Mangudya said.
The current conservative monetary targeting framework, anchored on 22.5% reserve money quarterly targets by keeping the bank policy rate and the MBA facility rate at 40% and 30% respectively, was maintained.
By Alois Vinga
THE Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee (MPC) has injected $2.5 billion towards the winter wheat farming season.
Deliberations made by the new MPC favoured maintaining the current stability, capping on lending interest rates and strengthening support towards Small to Medium Enterprises.
“As part of measures aimed at buttressing the current stability, the committee increased the amount of the Medium-term Bank Accommodation facility by an additional $2.5 billion to cater for the winter wheat planting programme,” RBZ governor, John Mangudya said.
The current conservative monetary targeting framework, anchored on 22.5% reserve money quarterly targets by keeping the bank policy rate and the MBA facility rate at 40% and 30% respectively, was maintained.