WITH key indicators showing Zimbabwe’s increasing bias towards the US dollar (US$), industry has warned that a re-dollarisation of the economy would be catastrophic.
In a recent note, the Confederation of Zimbabwe Industries (CZI) pointed to the increase in the proportion of foreign currency-denominated loans from about 37 percent in December 2021, to 64 percent in December 2022, which was revealed in the recently announced 2023 Monetary Policy Statement, as one of the worrying signs.
Advertisements
Kurai Matsheza, Confederation of Zimbabwe Industries
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.
Login if you have purchased