‘Fully-fledged Currency’ in 12 Months: Ncube

Minister of Finance and Economic Development, Mthuli Ncube says Zimbabwe will have currency in the next 12 months and to close the gap between the rate for dollars in the official and parallel markets using RTGS dollars.

Ncube made the remarks on Bloomberg Television on Thursday.

Meanwhile Zimbabwe has reached agreement with the International Monetary Fund (IMF) on a programme of economic policies and structural reforms that could pave the way to the crisis-hit country re-engaging with international financial institutions.

Suffering from decades of decline and hyperinflation, Zimbabwe has not been able to borrow from international lenders since 1999, when it started defaulting on its debt. It has arrears of around $2.2 billion with the World Bank, the African Development Bank and European Investment Bank.ZimbabweMail