Zimbabwe’s biggest bank, CBZ has set new withdrawal limits for its international Visa card holders who will also now be required to fund their accounts with physical cash before travel.
Zimbabwe can easily turn around from a $4.5 billion economy today into a $50 billion economy if it speedily implements the Special Economic Zones it has already identified, the Member of Parliament for Chegutu West Dextor Nduna says.
The Zimbabwe Anti-Corruption Commission (ZACC) says it has no money to carry out investigations outside the capital Harare due to limited funding from Treasury.
Zimbabwe’s trade deficit narrowed by 5 percent to $1.3 billion in the first half of the year, after exports fell 9 percent, latest data from the Zimbabwe National Statistics Agency (Zimstat) shows.
Former United States Assistant Secretary of State for African Affairs Jendayi Frazer piled pressure on South Africa to push for President Robert Mugabe’s resignation in favour of his Vice-President, Joice Mujuru, days before the inclusive government was sworn in.
Zimbabwe’s energy regulator will go ahead with plans to introduce mandatory fuel marking which it says will curb rampant fuel smuggling which is prejudicing the country of an estimated $1 billion annually in unpaid taxes.
The Zimbabwe Stock Exchange industrial index advanced one percent to close the week on 202.06 points, its highest point in 40 months, while the mining index weakened by 5.14 percent to settle at 65.45 points after losses in Bindura.
Although America’s right-wing plutocrats may disagree about how to rank the country’s major problems – for example, inequality, slow growth, low productivity, opioid addiction, poor schools, and deteriorating infrastructure – the solution is always the same: lower taxes and deregulation, to “incentivize” investors and “free up” the economy.