In a desperate bid to mobilise foreign currency to meet an anticipated huge food import bill this year,Central Bank governor Gideon Gono has called on government to grant amnesty to exiled businesspeople. In his interim monetary policy statement on Thursday, Gono said the amnesty should be granted in the spirit of his proposed and failing social contract, which seeks to bring together business, labour...
Zimbabwe's annual inflation jumped to a record 2,200 percent in March, central bank Governor Gideon Gono said on Thursday as the country's economic and political crisis deepened. He dismissed calls to devalue the Zimbabwean currency, saying it would remain at its official peg of 250 to the U.S. dollar -- almost 100 times less than the black market rate -- although he said the bank would buy...
THE Zimbabwean Minister of Finance, Samuel Mumbengegwi was last week denied a visa to travel to the United States of America to attend the joint International Monetary Fund (IMF) and World Bank Spring meeting which was held in Washington on 14 and 15 April. Mumbengegwi, like most government officials, is on the US list of targeted sanctions for Zimbabwean government and ruling party officials, their...
Harare - Zimbabwe's government, which has indefinitely postponed the latest set of inflation figures, appears increasingly panicked over its losing battle against the country's "economic HIV,"...
LONDON Stock Exchange-listed Central African Gold has paid a total US$6,2 million in cash and shares for the acquisition of two Zimbabwean gold mines. CAG this week announced it had acquired 85 percent of the Zimbabwe Stock Exchange-listed mining entity Falcon Gold.The group has also taken over all of the unlisted shares of Olympus Gold Mines in cash and an issuance of nine million new shares. Johannesburg...
HARARE - Zimbabwe's mining sector faces a debacle as a skewed exchange rate and heavy borrowing hit an industry that has become the top foreign currency earner, the mining chamber said on Thursday....
Harare - A senior official from Southern Africa's key economic bloc was due in Zimbabwe Wednesday to identify what will be needed for an economic rescue package for Harare, state radio reported. Prega...
Zimbabwe's state data agency on Wednesday postponed "indefinitely" the release of March inflation figures, which were expected to show prices rising to a new record high in the financially-strapped...
THE debate on the controversial takeover of water and sewage reticulation services in all urban areas by the Zimbabwe National Water Authority (ZINWA) took a strange twist this week when a Zanu-PF Member...
JOHANNESBURG - South Africa's business confidence in March continued a downward trend that started in January, as infrastructure constraints and a political crisis in neighbouring Zimbabwe weighed...