Zimbabwe Economy

Zimbabwe Bourse CEO Bemoans 80% Currency Crash Ravaging Market

Bloomberg) — When it comes to adverse conditions for stock-market trading, Zimbabwe’s bourse belongs in a special category for extreme cases. Consider the challenges confronting Zimbabwe Stock Exchange Chief Executive Officer Justin Bgoni: a local currency that has crashed more than 80%
November 11, 2019

Harare runs dry as water treatment plant shuts down

Harare-A disease outbreak is looming in Zimbabwe’s capital Harare after the City council shut the main water treatment plant owing to shortage of water treatment chemicals. On Sunday the City of Harare issued a statement to the effect that they were buying
September 24, 2019

Zimbabwe citizens converge to find way out of crisis

Harare-Social movement organisation under the banner Citizens Manifesto will converge in Harare on Tuesday and Wednesday as they seek to map the way out of Zimbabwe’s current political and economic crisis. Speaking to journalists in Harare, Citizens’ Manifesto convener Briggs Bomba said
September 24, 2019

Zimbabwe teachers have been ‘reduced to beggars’

Zimbabwe teachers protesting their low wages are threatening to go on strike when schools reopen next month as the country’s deteriorating economy simultaneously faces yet another hike in fuel prices. The Progressive Teachers’ Union Secretary-General, Raymond Majongwe, issued the warning on Twitter
August 12, 2019

Zimbabwe’s banks begin trading in new currency – source

Zimbabwe’s banks on Friday started trading a new currency with corporate clients and individuals, although interbank trading won’t begin until Monday, a banking source said. Zimbabwe’s central bank announced on Wednesday it would scrap the official 1:1 peg between its quasi-currency bond
February 22, 2019

Zimbabwe inflation has hit 290%, says economist

Harare ‑ Zimbabwe’s inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80 000 percent at the end of 2018), United States economist and currency expert Steve Hanke said. This inflation rate is in stark
January 27, 2019

We have no plans to seize Zimbabwe assets says China

China has reportedly said that it has “no plans to seize any Zimbabwean assets” despite Zimbabwe failing to settle debt arrears. According to the privately-owned Zimbabwe Independent newspaper, this came as China tried to downplay and reject “the oft-repeated charge that it is building
October 2, 2018

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