Zimbabwean exporters are keeping $900m offshore, finance official says

A currency dealer counts wads of bond notes outside a bank in Harare, Zimbabwe. Picture: REUTERS/PHILIMON BULAWAYO

The Southern African nation is gripped by a severe dollar crunch, which has triggered shortages of fuel and medicine. The local currency has fallen, sending prices of basic goods soaring. Another $400m was outstanding from the January to May 2019 exports, which earned $1.4bn, he said. Exporters were also keeping $800m in local foreign currency accounts, he added.

"The issue is how do we enhance the interbank market so that those export proceeds can be liquidated on the interbank market," said Guvamatanga, who appeared with finance minister Mthuli Ncube.Speaking on condition of anonymity, some said they were reluctant to sell their money on the official market, where traders have said the central bank is influencing the exchange rate.

Because if they repatriate it it will be plundered by the government?

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Canadian mining company in talks to buy idle Zimbabwean gold mineThe miner wants to be exempted from a law that requires producers to sell all the metal to the country’s central bank
Fonte: BDliveSA - 🏆 12. / 63 Consulte Mais informação »

Canadian mining company in talks to buy idle Zimbabwean gold mineThe miner wants to be exempted from a law that requires producers to sell all the metal to the country’s central bank
Fonte: BDliveSA - 🏆 12. / 63 Consulte Mais informação »

Former Mozambican finance minister avoids US extraditionWhile Justice and Correctional Services Minister Michael Masutha did acknowledge that the US submitted a request for Manuel Chang’s extradition a few weeks prior to Mozambique’s request, he felt that justice would best be served in Mozambique. The_EyaazO Good
Fonte: mailandguardian - 🏆 2. / 92 Consulte Mais informação »

Mozambique's former finance minister to be extraditedManuel Chang, who was arrested in South Africa last year, will now face fraud charges in Mozambique. he must go face music. Country can't even help its cyclone ravaged victims whilst they loot its resources Moz had no warrant for his arrest before learning the US had one.
Fonte: eNCA - 🏆 49. / 51 Consulte Mais informação »

US unhappy with SA's decision to extradite Mozambican ex-finance minister | IOL NewsThe US expressed disappointment with Pretoria's decision to send home former Mozambique finance minister Manuel Chang.
Fonte: IOL - 🏆 46. / 51 Consulte Mais informação »