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Forex earnings inch closer to US$6 billion
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Reserve money growth triggers market rally
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Dr John Panonetsa Mangudya
HARARE – The economy has been resilient for much of the year, with key macroeconomic fundamentals reflecting strong performance in the January to November period despite the fallout from the coronavirus, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya said on Thursday.
Going forward, he said, key focus areas will be fiscal stability and sustainability (balanced budget), monetary stability (stable exchange rate) and financial system stability (healthy banks that can support the economy).
Addressing a Zimbabwe Chamber of Commerce (ZNCC) half-day conference on Thursday, Dr Mangudya said key statistical indicators showed that the economy was now on a sound footing.
Wednesday, December 16, 2020 NewsdzeZimbabwe
Zimbabwe’s Diaspora remittances are this year expected to
close at record levels of US$940 million, despite economic disruptions caused
by the Covid-19 pandemic.
Estimates from the Reserve Bank of Zimbabwe (RBZ) show that
as at October 30, 2020, Zimbabwe had registered a 48 percent jump in
remittances to US$760 million, from the prior comparable period.
This was largely due to increased use of formal channels,
amid national lockdowns and restrictions
implemented by countries due to Covid-19.
Central bank Governor Dr John Mangudya last month said
remittances were bringing in about US$90 million a month.
With US$760 million in remittances having come into the
Zim Diaspora inflows set for record levels
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