The reintroduction of the
"BAZ is very happy with the pronouncements made by the Minister of Finance and the
He said such pronouncements had helped to buttress the confidence of foreign investors who responded by pouring in millions of dollars to shore up banks' capital in a market starved of liquidity. Financial institutions that have benefited from the growing confidence include AfrAsia Bank Zimbabwe, Ecobank Zimbabwe,
"These pronouncements have given confidence to foreign investors as we have witnessed the recent investments in the banking sector,"
"Reintroduction of the
Minister Chinamasa has on numerous occasions, including during his presentation of the 2014 National Budget Statement, stressed the point that the multi-currency regime would run the full course of Zim-Asset programme, Government's medium term economic policy for the period 2014 /18.
The new BAZ president said as part of confidence building and effort to mitigate the impact of the liquidity crisis, it may be necessary to control expansion imports as this was draining liquidity in the economy while crowding out local products.
"The multi-currency regime has provided stability and predictability and this is facilitating an effective and efficient payment system,"
Deposits have also grown progressively since then to
"Economic activity has measurably slowed, but the multi-currency regime has helped stabilize the economy and set it on a path to growth," the BAZ boss said
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