Zimbabwe moving on

| February 20, 2018

Zimbabwe’s central bank has said it plans to sell bonds to allow citizens living outside the country to invest in the country’s tobacco and gold, according to a story by Godfrey Marawanyika and Renee Bonorchis for Bloomberg News.

The Reserve Bank of Zimbabwe said it would provide more information on the diaspora bonds ‘in due course’.

At the same time, banking rules are being introduced with the intention of encouraging money flows and exports.

Under the rules, lenders must give exporters access to all of the foreign currency they received from selling goods, within 14 days of the funds being deposited.

And small, non-corporate exporters shipping more than $2,000 of goods no longer need fill in certain forms.

The new policies and plans come three months after the former president was replaced by the former deputy president, Emmerson Mnangagwa, who is said to be on a drive to revive the economy and attract investment.

The new administration will allow white farmers to apply for 99-year leases on land, up from five years previously.

And it has pledged to compensate them for improvements they made to land that was seized.

The Bloomberg story is at: https://www.bloomberg.com/news/articles/2018-02-19/zimbabwe-plans-gold-tobacco-diaspora-bonds-as-bank-rules-change.


Category: Breaking News, Financial, Leaf, People, Regulation

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