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Why Zimbabwe's govt stopped banks from lending to businesses, individuals - Vimarsana News

Why Zimbabwe's govt stopped banks from lending to businesses, individuals

HARARE - Some companies operating in the agro-business sector in Zimbabwe have stopped offering credit facilities and advance payments, opting to work on a cash basis, after the government stopped banks from their core business of lending. Last weekend, President Emmerson Mnangagwa ordered banks to stop lending or offering credit lines to businesses and individuals.…

Why Zimbabwe's govt stopped banks from lending or offering credit lines to businesses, individuals - Vimarsana News

Why Zimbabwe's govt stopped banks from lending or offering credit lines to businesses, individuals

Reserve Bank of Zimbabwe governor, John Mangudya, called it painful, but a "temporary, necessary measure to ensure that there is sanity in terms of taming inflation".

Source: news24.com