Culture. New Media. Activism. Innovation
By Staff Writer Zimbabwe’s central bank has reduced bank rates to 15% from 25% per annum with effect from Friday this week as authorities move in to ease the cost of borrowing against the backdrop of an economic implosion triggered by COVID-19. Zimbabwe’s economy is floundering and expects project the Gross Domestic Product to contract …
The post RBZ lowers lending rates in response to COVID-19 appeared first on Open Parly.
By Staff Writer Zimbabwe’s central bank has reduced bank rates to 15% from 25% per annum with effect from Friday this week as authorities move in to ease the cost of borrowing against the backdrop of an economic implosion triggered by COVID-19. Zimbabwe’s economy is floundering and expects project the Gross Domestic Product to contract …
The post RBZ lowers lending rates in response to COVID-19 appeared first on Open Parly.
The World Bank says remittances to Sub-Saharan Africa will decline by about 23.1% in 2020 to reach US$37 billion owing to the effects of COVID-19 which has affected the global economy. In a statement, the bank attributed the decline largely to a fall in the wages and employment of migrant workers, who tend to be …
The post Remittances to Sub-Saharan Africa decline 23.1% due to COVID-19, says World Bank appeared first on Open Parly.
The World Bank says remittances to Sub-Saharan Africa will decline by about 23.1% in 2020 to reach US$37 billion owing to the effects of COVID-19 which has affected the global economy. In a statement, the bank attributed the decline largely to a fall in the wages and employment of migrant workers, who tend to be …
The post Remittances to Sub-Saharan Africa decline 23.1% due to COVID-19, says World Bank appeared first on Open Parly.
By Staff Writer Imara Capital, one of the country’s leading investment firms has advised President Emmerson Mnangagwa’s administration to push for political negotiations with Nelson Chamisa, as well as to adopt sound economic reforms after warning that the country’s economy could this year shrink by double-digit figures. Zimbabwe and the world are currently battling the …
The post COVID-19: Zim to record double digit GDP contraction appeared first on Open Parly.
By Staff Writer Government has ordered retailers to slash prices of basic goods to pre-March 25 in an effort to cushion consumers from the skyrocketing prices. The moratorium immediately evoked yesteryear memories when authorities effected price controls in 2007 to slow down runaway inflation. Zimbabwe’s breadbasket has over the past months been soaring on the …
The post Food shortage fears loom, as Govt freeze prices appeared first on Open Parly.
By Staff Writer It’s 7 o’clock in the morning and many people are already queuing outside OK Supermarket in Avonlea waiting for the shop to open. After enduring the first 21-day lockdown, many are now accustomed to the drill-while queuing stay a metre apart, get your body temperature checked and the shop assistant sprays hand …
The post Enter the new type of vendors, as Harare defy COVID-19 lockdown appeared first on Open Parly.
By Dr Tapiwa Mashakada The causes of macroeconomic instability and monetary policy effectiveness have long been identified. These are (a) a debauched mono currency which has been rejected by the market (b) failure to de-dollarize because the market has self dollarized (c) inadequate forex to sustain a market-driven but managed float and hence the buoyance …
The post Currency Stabilization Task force confirms mishandling of the economy, says Mashakada appeared first on Open Parly.
By Staff Writer Zimbabwe’s prospects of accessing long-term concessionary funding from international financial institutions has been thrown into disarray after the southern African country missed key benchmarks in its reform drive, analysts have warned. The country is saddled with a debt stock of $16,9 billion, with external debt accounting for approximately $7,4 billion. Out of …
The post Wither Zim’s debt plan appeared first on Open Parly.
By Nkanyiso Ncube Shurugwi South legislator Edmond Mkaratigwa has told Reserve Bank governor John Mangudya to act on the economy by introducing meaningful measures and stop wishing and praying for inflation to go down. According to Mkaratigwa, all he is hearing from the RBZ boss were wishes and prayers which he said will not inspire …
The post Act on economy, stop wishing and praying, Mangudya told appeared first on Open Parly.