Stories

Swedish ambassador to Zimbabwe Stan Rylander said the European Union was working with a group of Zimbabweans to craft a programme that would remove the security chiefs as a threat to future reform, but he told United States embassy officials that this must be handled carefully.

(67 VIEWS)

Zimbabwe’s banks were awash with so much cash-nine months after the introduction of the multiple currencies in 2009- that they did not seem to notice that the Reserve Bank of Zimbabwe had robbed them of $39 million. 

(38 VIEWS)

Reserve Bank of Zimbabwe governor Gideon Gono used US$40 million of the banks’ reserves lodged with the central bank without authorisation and it is not clear what the money was used for, Minister of Economic Development at the time Elton Mangoma told United States diplomats.

(44 VIEWS)

Finance Minister Tendai Biti told diplomats in October 2009 that though government revenue had risen to US$90 million a month, 20 times more than his ministry had been getting when he assumed office, it still fell short of government spending.

(66 VIEWS)

Reserve Bank Gideon Gono received the Ig Nobel Prize in Mathematics on 1 October 2009 for “giving people a simple, everyday way to cope with a wide range of numbers – from very small to very big – by having his bank print bank notes with denominations ranging from one cent ($.01) to one hundred trillion dollars ($100,000,000,000,000)”.

(145 VIEWS)

Central bank governor Gideon Gono was reported to have moved into his new 112-room mansion on the outskirts of Harare.

(2115 VIEWS)

Central bank governor Gideon Gono reportedly told The Herald that the International Monetary Fund had finally agreed to give Zimbabwe $500 million after months of behind the scenes interaction with the Reserve Bank of Zimbabwe when in fact this was a new allocation of special drawing rights to all IMF members.

(63 VIEWS)

An increase in armed robberies had forced many people to deposit money in banks for the sake of security otherwise most Zimbabweans were still sceptical about putting their money in banks.

(77 VIEWS)

Central bank governor Gideon Gono clashed with Finance Minister Tendai Biti over the $500 million in special drawing rights granted to Zimbabwe by the International Monetary Fund in August 2009 because Gono regarded it as a windfall while Biti urged caution saying the money should be used to reduce the country’s arrears with international financial institutions.

(76 VIEWS)

A bill that will clip the wings of the Reserve bank of Zimbabwe governor is before parliament but critics fear that the bill was personalised and might have to be amended to create a more independent central bank.

(28 VIEWS)