Zimbabwean Minister of Finance and Economic Development, Mthuli Ncube has accused government contractors of fuelling exchange rate and price instability.
He says they are doing this by offloading their RTGS payments on the black market to buy United States dollars.
Ncube threatened to blacklist company directors and freeze their bank accounts if found wanting.
Apparently, the Zimbabwean dollar is performing badly against major convertible currencies particularly the green buck.
Inflation is on the rise despite government’s attempt to downplay the figures.
According to renowned economist Steve Hanke Zimbabwe’s inflation is among the top on the world ranking.
Zwnews
SOUTH AFRICA: In a tragic incident, at least 45 individuals lost their lives in Limpopo,… Read More
University of Zimbabwe Professor Itai Muwati Allegedly Murdered Over Disagreement with Madzibaba Ishmael Chokurongerwa Following… Read More
Zimbabwean influencer Shadaya Tawona Knight has reached out to the Zimbabwe Republic Police for assistance… Read More
Reports from concerned drivers in the Democratic Republic of Congo (DRC) indicate that Jeremiah Kamuterera,… Read More
The Zimbabwe Republic Police (ZRP) has launched an investigation after discovering 20 young women who… Read More
In an electrifying showdown at Rufaro Stadium, newly promoted side Bikita Minerals clinched their maiden… Read More