The country received a record breaking foreign currency receipts topping US$13.3 billion in the 2024 financial year, data by the Reserve Bank of Zimbabwe has shown.
This was largely driven by exports (US$7.9 billion), diaspora remittances (US$2.2 billion), loans (US$1.6 billion) and NGOs (US$1.2 billion).
Commenting on the feat, economic analyst Professor Gift Mugano said:
“It is evident that if we improve on accountability and efficient use of our forex (by stopping command exchange rate), we can easily build sufficient reserves (i.e., US$4.5 billion) required to introduce our local currency and run it sustainably.”
Zwnews
