Banking & Finance

RBZ sets up $70mln facility for foreign payments, says Zim banks holding $120mln in cash

15th February 2017 Staff Reporter 0

HARARE,– The central bank says it is putting in place a $70 million nostro stabilisation facility to quicken the processing of outgoing payments by banks after the amount held in offshore accounts dropped by two […]

Banking & Finance

‘Death Spiral’ Looms for Zimbabwe Economy as Cash Runs Out

7th February 2017 Staff Reporter 0

Zimbabwe’s crippling cash shortage has left a black hole in the financial system that’s crushing the rest of the economy. by Brian Latham and Michael Cohen “We deposit the cash and it becomes theoretical, ephemeral,” Mohamed […]

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