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Cash-Strapped Nation to Print U.S.$75 Million in ‘Bond Notes’

Cash-Strapped Nation to Print U.S.$75 Million in ‘Bond Notes’

Zimbabwe says it will introduce “bond notes” equivalent to the US dollar by the end of next month to tackle cash shortages, but analysts raised concerns over a potential repeat of the excessive money printing that led to hyperinflation several years ago. The country adopted the US dollar and South African rand in 2009 after […]

How Is Zimbabwe Paying for Its New Bond Notes?

How Is Zimbabwe Paying for Its New Bond Notes?

Questions are being raised about the collateral behind the Zimbabwean government’s issue of new US dollar denominated bond notes, an initiative which was announced by the Reserve Bank of Zimbabwe this week. There are fears that issuing bond notes could quickly lead to hyperinflation, a phenomenon that wrecked the economy before the Zimbabwean dollar was […]

The Revolution in Zimbabwe Will Be Hashtagged

The Revolution in Zimbabwe Will Be Hashtagged

With traditional avenues of criticism being closed off, Zimbabweans have taken to protesting online. But don’t mistake this for slacktivism. In a moment of deep frustration this April, Evan Mawarire, a pastor based in Zimbabwe’s capital of Harare, set his camera to record. Draped in the Zimbabwean flag, the emotional 39-year-old looked into the lens […]

280 Corrupt Zimbabweans Exposed By Panama Papers

280 Corrupt Zimbabweans Exposed By Panama Papers

The International Consortium of Investigative Journalists has named over 280 Zimbabweans, including prominent businesspeople, who reportedly syphoned billions of dollars out of the country. The businesspeople, mostly of Caucasian extraction, have links to offshore investment vehicles. The list is contained in data from over 200 countries that was leaked to the Panama Papers and contains […]

Reserve Bank of Zimbabwe Targets Agricultural Support

Reserve Bank of Zimbabwe Targets Agricultural Support

The Reserve Bank of Zimbabwe (RBZ) is set to establish an agricultural support scheme worth US$160 million, which would be extended to a targeted 2 000 productive farmers. RBZ governor, John Mangudya, told the Financial Gazette’s Companies & Markets on the sidelines of the Zimbabwe Farmers Union (ZFU) 75th congress, that the support scheme would […]

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