THE decision by the government to accept 50 percent of foreign currency corporate tax obligations in the Zimbabwe dollar (ZWL) will help reduce inflationary pressures, but more needs to be done to boost market confidence in the local unit, analysts say.
The Treasury recently announced the measures in a bid to stimulate demand for the local currency. Zimbabwe has seen a surge in inflation as the local currency has gone into free fall alongside a spiralling exchange rate and businesses have demanded payment of goods in US dollar.
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Some business have demand payment of goods in US dollars
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