Posts by Charles Rukuni

The International Monetary Fund said Zimbabwe’s foreign currency auction system was not sustainable because the central bank did not have enough money to meet demand.

(49 VIEWS)

Zimbabwe’s top miners complained that they were being squeezed out and were not benefitting at all from central bank governor Gideon Gono’s new measures for exporters.

(13 VIEWS)

Confederation of Zimbabwe Industries president Anthony Mandiwanza called for the reopening of tripartite negotiations involving the government, business and labour saying the environment had never been more positive.

(56 VIEWS)

The Confederation of Zimbabwe Industries said the central bank should accept no rate lower than Z$5 800 to the greenback at its auctions or relinquish its right to purchase 25 percent of export earnings at the official Z$824.

(29 VIEWS)

A stronger Zimbabwe dollar following the introduction of foreign currency auctions by the central bank slowed down year-on-year inflation from 620 to 599 percent.

(32 VIEWS)

The Reserve Bank of Zimbabwe’s currency auction got off to a good start with the Zimbabwe dollar going for an average Z$4 200 to the greenback and the central bank only selling one-tenth of the US$5 million it had on offer.

(26 VIEWS)

Central bank governor Gideon Gono showed his new financial clout by announcing new measures for exporters which would only allow them to exchange only 25 percent of their earnings at the official rate, down from half, and announced that insolvent banks would be left to collapse.

(78 VIEWS)

The United States embassy said while the government was cracking down on parallel market trading, central bank governor Gideon Gono’s Commercial Bank of Zimbabwe continued “to be one of the most brazen parallel market players”.

(21 VIEWS)

The managing director of the Jewel Bank Gideon Gono has been appointed governor of the Reserve Bank of Zimbabwe which has been without a leader since April 2003 when Leonard Tsumba was eased out, three months before the end of his term.

(38 VIEWS)

Zimbabwe’s economy had plummeted by as much as 40 percent by mid-2003 but the economy was being sustained by remittances from Zimbabweans abroad as well as assistance from Libya and South Africa.

(25 VIEWS)