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RBZ unveils measures to boost investment

Posted on March 31, 2018 0

The Reserve Bank of Zimbabwe (RBZ) yesterday unveiled a raft of interventions, including enhancing nostro stabilisation facilities to support foreign payments, backed by a $1,5 billion kitty to be availed by the Afreximbank, as part of measures to accelerate economic turnaround.

Zimbabwe is tying the loose ends to the $1,5 billion funding facility with the Afreximbank to provide security against potential risk of investment, in a bid to stimulate investor confidence. The funds will also be used to provide hard currency support for key external payments, such as fuel, medicines and raw materials for the manufacturing sector.

RBZ Governor Dr John Mangudya yesterday said it was critical to come up with measures that dovetail with President Mnangagwa’s aspirations for a foreign direct investment (FDI) driven economic turnaround. Presenting the 2018 Monetary Policy Statement in Harare, Dr Mangudya said the decision taken by Government to open up the economy was central to sustainable economic transformation.

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