Zimbabwe has launched its own money for the first time since the country’s dollar was abandoned seven years ago amid rampant inflation. The bond note, which is worth one US dollar – the country’s main currency since 2009 – is raising fears of a return to the ill-fated local dollar. The move, first announced in … Read more
The International Monetary Fund (IMF) has lifted remedial measures against Zimbabwe after the southern African country cleared its 15-year debt arrears to the multilateral financial institution last month. The IMF, however, said any future financial assistance to Zimbabwe would depend on other applicable policies including clearing 1.15 billion U. S. dollars arrears to the World … Read more
The United States has set in motion a plan to “collapse the Zimbabwean economy overnight” by restricting US dollar imports into the country, The Sunday Mail 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. … Read more
Zimbabwe is so desperate for cash it has cut the retirement age for soldiers from 60 years to 50. Only those who fought in the 1970s liberation struggle are allowed to remain in service until 65. In another cost-cutting measure this week, Zimbabwe freed nearly all its female and juvenile prisoners as it cannot feed … Read more