The Reserve Bank of Zimbabwe’s (RBZ) decision to more than double the size of its bond-note programme to $500 million suggests the country is heading towards “de jure de-dollarisation”, according to research by an arm of rating agency Fitch.
“We do not believe the RBZ’s latest expansion marks the end of Zimbabwe’s experiment with bond notes,” BMI Research warns.
BMI acknowledges the troubled African economy is likely to benefit from an increase in tobacco production and gold prices in the shor
- Latvian police detain central bank governor on corruption charges
- RBI under pressure from alleged banking fraud scandal
- Ireland withdraws Lane’s nomination for ECB vice president
- Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
- Central banks mull securities lending as response to low yields