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Zimbabwe’s central bank said on Sunday that it has secured a US$500 million loan to help ease a shortage of foreign currency on the official interbank currency market.Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said in a statement that the central bank would start injecting funds from the loan into the official foreign currency market on Monday.
"We do appreciate Your Excellency the scarcity of foreign currency. National Building Society to fund the construction of affordable houses for magistrates throughout the country. We have agreed.
In the first stages of the plan, Reuters reports, Chinese tourists would be allowed to use the yuan to pay for services, and Zimbabwe would begin paying back its loans to China in the currency.
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It would “allow for proper risk-based pricing of loans.” The appeal by the banks come as. by paying back domestic debt and abandoning an insistence that a currency used only in Zimbabwe, the RTGS$,
APA-Harare (Zimbabwe) Zimbabwe’s central bank said on Sunday that it has secured a US$500 million loan to help ease a shortage of foreign currency on the official interbank currency market.
· Source: Top forex earners to spur revival | sunday news (business) dumisani nsingo, Senior Business Reporter IMPROVED production of the country’s two top foreign currency earning commodities, tobacco and gold is likely to be a springboard to the country’s economic turnaround. Captains of industry and economists interviewed by Sunday News Business said the significant.
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The Central Bank of Zimbabwe says. that the loan was to ease a dollar crunch that had brought fuel and medicine shortages. mangudya said that the central bank would start accessing the funds from.