Finance Minister Cde Patrick Chinamasa has announced the reintroduction of yhe Zimbabwean Dollar following months of speculation and biting liquidity constraints dogging the economy. In a brief statement issued by the Ministry Of Finance Cde Chinamasa said yhe return of yhe Zimdollar was intended yo refinance recurrent/capital expenditure and ZimAsset. Cde Chinamasa further directed banks to freeze accounts in a bid to avert a run on deposits. The statement said Cde Chinamasa will address parliament this week for further clarification. This move comes barely a week after yhe International Monitory Fund (IMF) said it will not issue new loans to Harare due to outstanding debt. TYE news of the return of the Zimdollar is expected to send shock waves in yhe fragile economy wich is battling with high levels of unemployment and grinding poverty . The Zimbabwe Stock Exchange will be affected directly.
Posted on: Thu, 03 Apr 2014 21:37:29 +0000
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