Reserve Bank of Zimbabwe summons banks over forex allocation

The Reserve Bank of Zimbabwe is set to meet bankers over foreign currency allocations following claims by business that banks are not prioritising the productive sector.  In the wake of a deepening foreign exchange shortage that has seen Zimbabwe accumulate an international payments backlog pegged at $600 million as at May 2017, the country’s main exporters last week approached Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, for an intervention in the allocation of the scarce forex.