Zimbabwe’s Economy Rebounds With Strongest Export and Forex Surge in Years
Zimbabwe’s Economy Rebounds With Strongest Export and Forex Surge in Years
Official data show a 94.5% fall in the trade deficit to $8.7 million in July, alongside a 22.9% jump in exports in August that pushed foreign exchange reserves to $900 million.
We operate in a foreign currency surrender, which entails the surrender of 30% of all export proceeds to the interbank market [...]. So the foreign currency liquidity is important in the supply and demand dynamics as regards the cost of money, which is the interest rate.
#AfricanCurrents spoke with two Zimbabwean officials about the country’s economic data and monetary policies.
Dr. Persistence Gwanyanya, who sits on the Reserve Bank of Zimbabwe’s Monetary Policy Committee, observed that surging exports and improved forex inflows are helping to sustain economic growth.
The podcast also features Mrs. Tafadzwa Bandama, Director General of the Zimbabwe Statistical Agency, who outlined the factors driving the recent positive trends in the country’s economy.
Tune in to the full interview via:
Apple Podcasts and all your favorite streaming platforms
Subscribe to @sputnik_africa
