RBZ given teeth


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The Reserve Bank of Zimbabwe has been given some teeth with the injection of $7 million to enable it to resume overnight loans to financial institutions. The central bank which should be lender of last resort was made toothless following the introduction of the multiple currency system last year. It is also virtually broke. The government had to step in in July to stop its assets from being sold off.

(69 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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