Zimbabwe pays out US$5.3 billion in 8 months, 80% from FCAs


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Zimbabwe paid out US$5.3 billion in the eight months to August with 80% coming from foreign currency accounts, 17% from the auction and only 2% from the interbank market.

The auction allotted US$925.5 million in the eight months with only US$90.8 million being allotted in August, the second lowest allocation in the eight months. 

The lowest was in January when US$69.6 million was allotted while March had the highest allotment of US$184.1 million.

Nearly half of the money allotted in August, 46%, was for raw materials while machinery and equipment accounted for 25%.

(95 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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