Zimbabwe Central Bank Says Lending Freeze Is Temporary
Sign up for free
Listen to this episode and many more. Enjoy the best podcasts on Spreaker!
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
Zimbabwe’s central bank governor John Mangudya says the freeze on bank lending is a temporary measure which is meant to contain inflation and stabilise its economy, President Emmerson Mnangagwa ordered...
show morePresident Emmerson Mnangagwa ordered the suspension with immediate effect, saying the move was meant to stop speculation against the Zimbabwean dollar, which has been rapidly devalued on a thriving black market.
Zimbabwe’s inflation has started to rise again, with year-on-year inflation at 96% in April, up from 61% at the beginning of the year, mainly due to a rapidly weakening local currency.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company