Mthuli increases CDF to ZW$175K
RBZ Falls Deeper Into A Crisis of Confidence
By Daniel Chigundu Speaker of the National Assembly Jacob Mudenda has revealed that the Constituency Development Fund (CDF) has been increased to about ZW$175 238 per constituency. Legislators had complained during the Supplementary Budget debate that what had been previously allocated to them in the initial 2019 budget had been eroded by inflation and changes …
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Govt seeks to keep US, Bond Note value at par
By Mufaro Three years ago Mnangagwa assured “business and the general populace that bond notes are not going to replace the multi-currency basket”. Fast forward to today, trading in any other currency outside the bond note and RTGS is now illegal in Zimbabwe through Statutory Instrument 142 of 2019. RBZ’s policy interventions this week have sent …
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By Daniel Chigundu Ministry of Finance says it will present the 2019 National Budget in US dollars because it is the currency unit of account and that it is looking at measures of keeping the Bond Notes at par with the dollar. The Bond Note was introduced a few years ago as an export incentive …