Categories: Zim Latest

Zim cash crises: Gvt takes measures to end problem

Zimbabwe government is in a desperate mode in its bid to arrest the current money and cash crises affecting business.

It is beyond belief that now Zimbabweans have to buy US dollars at black market in order to survive.

Reacting to the unfolding currency shortage disaster, the finance Ministry is working with the Reserve Bank of Zimbabwe to bring order to a chaotic situation in which people are now using their banked US dollars to by real dollars.

Today Finance and Economic Development Minister Patrick Chinamasa, gave a comprehensive report on measures being implemented by Government to address cash shortages including re-engagement efforts with multi-lateral lending institutions.

Chinamasa updated the Politburo on the implementation of Zim-Asset with emphasis on measures to address the cash crisis.

These include use of plastic money, charges and fees on the of point of sale machines, Real Time Gross Settlement and mobile banking platforms, cash withdrawal limits, export bonus scheme and enhanced interbank market foreign exchange management.

Chinamasa is seemingly fighting a loosing battle to restore market confidence in a country where people are fearing that their blood and sweat will once again be traded for rubbish money as what happened in the infamous 2008-2009 crises.

Share

Recent Posts

Zimbabwean Driver Locked Up in DRC After His Truck Kills 18 People in Deadly Accident

Reports from concerned drivers in the Democratic Republic of Congo (DRC) indicate that Jeremiah Kamuterera,… Read More

29th March 2024

Police Investigate Discovery of 20 Young Women Linked to Madzibaba Ishmael Cult in Harare Hideout

The Zimbabwe Republic Police (ZRP) has launched an investigation after discovering 20 young women who… Read More

29th March 2024

CAPS United Humiliated as New Boys Bikita Minerals Secure First Premiership Victory…ZPSL Results

 In an electrifying showdown at Rufaro Stadium, newly promoted side Bikita Minerals clinched their maiden… Read More

29th March 2024

No loss of value through introduction of currency stabilization measures- David Mnangagwa

The Deputy Minister of Finance and Investment Promotion David Mnangagwa has attributed the current surge… Read More

29th March 2024

Mnangagwa prematurely ends Mangudya’s tenure as RBZ governor

HARARE – President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of… Read More

29th March 2024

Tragedy Strikes as Bus Plunges Off Bridge in Limpopo, Killing 45 ZCC Church Mmembers

SOUTH AFRICA: A devastating bus accident on the R518 in Limpopo's Waterberg district has led… Read More

29th March 2024