Lonrho loses case against RAM Petroleum
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Bread Prices Shoot Up To Over US$1 - NewZimbabwe com
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Bread price up
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DUMISANI NYONI
According to a Monetary Policy Statement released by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya last week, foreign investment declined from US$53.47 million to US$40.06 million in 2020 while international and diaspora remittances increased by 57.6% to US$1.002 billion.
Loan proceeds registered 42.5% growth to US$845.21 million whereas income receipts and non-governmental organisations contributed US$56.85 million and US$647.75 million, respectively.
In total, foreign currency receipts for 2020 increased by 14.9% to US$6.288 billion.
Economic analysts attributed the decline in foreign investment to the outbreak of the Covid-19 pandemic which heightened the risks.
“The decline in foreign investment is because of the risks associated with the Covid-19. No one was actually going to be investing. But already the crisis before was associated with declining foreign direct investment (FDI),” economic analyst Godfrey Kanyenze said.