RBZ Governor Dr John Mangudya – newzimbabwevision

Reserve Bank of Zimbabwe is importing at least US$10 million weekly and wants to introduce bond notes to ease cash shortages.

Posted on September 11, 2016 by newzimbabwevision

THE United States has set in motion a plan to “collapse the Zimbabwean economy overnight” by restricting US dollar imports into the country, our Harare Bureau has gathered. Part of this plot involves violent street protests against the scheduled introduction of bond notes aimed at easing US dollar cash shortages that began in April 2016. However, US Zimbabwe Embassy spokesperson Ms Karen Kelly could not be reached for comment yesterday. But Finance and Economic…

SOCIAL MEDIA VICTORY! -Chinamasa Claims ‘My Son Never Attempted To Smuggle US$7m, To South Africa’,

Posted on June 2, 2016June 2, 2016 by newzimbabwevision

Claims on social media that Finance Minister Patrick Chinamasa’s son was arrested at Beitbridge Border Post while trying to smuggle out $7 million are false and meant to undermine the minister’s efforts in turning around the economy. Minister Chinamasa dismissed the allegations in a statement saying they were deceitful. “There have been rumours circulating in the social media about the alleged arrest of my son for allegedly trying to smuggle $7 million cash through…

(Bond Notes To Start Circulating In August And Not June 2016)-RBZ Governor Dr John Mangudya

Posted on May 29, 2016 by newzimbabwevision

Bond notes will start circulating around August 2016 – and not June as previously projected – as their production takes at least four months, central bank RBZ Governor Dr John Mangudya has said. Government has also ruled out reintroducing the Zimbabwe dollar “anytime soon”, saying the multi-currency system will remain operational even when bond notes come aboard. The IMF, an official said, supported introduction of bond notes and was satisfied that Zimbabwe’s authorities would…

Zimbabwe To Secure US$200 Million Loan From Afrexim Bank To Ease Cash Shortages

Posted on April 17, 2016 by newzimbabwevision

Zimbabwe will soon get US$200 million from Africa Export-Import Bank to ease cash shortages that beset some towns and cities over the weeks. The money will be released from Afreximbank’s nostro and export facility following discussions with the Reserve Bank of Zimbabwe. A nostro account is a bank depository held in a foreign country and denominated in the currency of that land. Such accounts essentially facilitate import and export payments, especially in the case…