What the Zimbabwe government, industry and business agreed to curb the black market

Zimbabwe’s Ministry of Finance, the Reserve Bank of Zimbabwe and representatives of industry and commerce met today to discuss and finds solutions to the escalating black market rates which are threatening to derail the local currency, with the black market rate reported to be as high as $200 to the United States dollar against the auction rate of $88.55.

Prices of goods have rocketed raising fears that this could wreak havoc in the Zimbabwe African National Union-Patriotic Front ahead of the 2023 elections which are less than 22 months away.

Here is what they agreed:

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This post was last modified on October 11, 2021 5:53 pm

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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.